On this episode of Team Tactics, Eric Forney talks to Matt Miale about what he thinks makes a good agent based off his years of experience in the industry.
Eric Forney and Matt Miale about what makes a good real estate agent in a recession, based off their years of leading America's top real estate teams.
Eric and Matt break down how to measure for resilience, coachability, and work ethic to determine whether a real estate agent will succeed or not in a shift. Their tactics and strategies are for both new and experienced agents.
Being a successful Realtor in a recession requires the principles Matt and Eric discuss.
What Makes a Good Real Estate Agent? A good agent isn't defined by their business card, clothes, or car.
People who have overcome adversity tend to have capacity for success in real estate.
05:08
Understanding Adversity and Team Building What Makes a Good Real Estate Agent
06:15
A good real estate agent should be able to get past the first surf break and have the resourcefulness to muscle through adversity.
06:30
Look for someone who can overcome adversity.
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The agent should also be able to link arms with others once they are on the other side of adversity. Identifying Adversity in Team Building
07:58
Longevity in a role means more if you face adversity often.
09:55
How being an agent affects your personal life. Emotional Challenges
10:11
Good agents gamify the business by focusing on getting wins every day.
10:25
The emotional experience of being a real estate agent causes many to fail. It's like a roller coaster where they feel good, then bad, then good again.
10:41
Agents need to have a tactical approach and gamify the whole thing to succeed. Characteristics of Good Realtors
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Good agents understand that there's abundance and plenty of opportunities.
11:34
A good agent needs to have both heart servant and competitive qualities.
11:48
Finding balance between competition and navigating the complexity of the business is key. 1
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People who make it in this business never get out because it hits all these awesome buckets. Reasons Why People Love Being Real Estate Agents
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Being a real estate agent satisfies personal growth, competition, limitless achievement potential, and having an impact on people's lives.
13:39
Few people appreciate being a real estate agent because they don't have the core qualities that get them to that point.
14:33
How Eric learned real estate on YouTube.
14:51
Personal standards are what motivate people to learn new things.
15:06
People who want to succeed will go out of their way to learn what they need to know. Personal Standards
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Personal standards are a value system that determines how someone approaches life.
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Eric values doing everything 100% or not at all. Achievement Trap
16:19
The achievement trap is when someone keeps moving the goal line after achieving success.
16:34
Balancing fulfillment with achievement is important once you have succeeded.
16:54
Giving 100% effort is the only thing you can control, so focus on that instead of outcomes.
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How to Identify Values and Standards for Potential Recruits Testing Resourcefulness
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Resourcefulness is a key trait to look for in potential recruits.
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Look at their track record and see if they have overcome significant challenges.
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Adversity can come in many forms, not just personal life struggles.
20:09
There is no specific task to test resourcefulness, but getting to know the person can help determine if they are someone you want on your team. Tactical Testing
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One way to test resourcefulness is by giving hypothetical problems or questions.
20:40
For example, asking a candidate to book accommodations for a trip with limited time and resources can show their level of resourcefulness.
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The candidate's problem-solving skills and ability to prioritize tasks can be evaluated through this type of testing. Example of Selective Hiring Process
21:50
The speaker shares an example of how he hired his first assistant using Craigslist and specific instructions.
22:08
Candidates were asked to leave a voicemail with the top three things they wanted to discuss during the interview slot provided.
22:43
This process tested candidates' ability to follow instructions and perform under pressure.
23:44
Is being a good person necessary for success in real estate?
25:21
Defining Success in Real Estate -- If it is strictly transactional, then being altruistic may not be necessary. These businesses don't thrive on repeat and referral business
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Mindset vs. Habits. The debate about whether mindset or habits are more important for success.
27:18
Three Simple Things to Do Every Day To count wins every day, focus on doing one of three things: sign an agreement, go under deposit or set an appointment. Doing one of these three things every day moves the ball in the right direction towards success.