So I’ve been having a ton of meetings as of late with agents worried about their business.  This isn’t new, and I’m sure it’s not specific to the Chicago market, but it’s something that deserves some attention.  Here’s the long and the short answer:

You cannot control a sale – your short term future is not defined by what you do today or tomorrow.  What you do in business today is going to affect your business 90 days out (or more) and should be worked into an actual business plan.  The goal, however, should be to start implementing ACTIONS that will translate into HABITS in your business going forward.

In this short video I discuss the creation of business habits as part of a business plan moving forward, as well as offering some ideas as to what you can do to start creating these habits tomorrow.

As you’ll see at the end of this video I am kind of let down by the amount of true collaboration that we see between agents and coaches alike with regards to sharing of actual implementable actions.  If you have done something in the past that you would like to share with others, or that you know could help someone out, please leave it in the comments.

All the best – Matt

Planning and Habits for your next 90 days in Business from Matthew Dollinger on Vimeo.

I shot this video on the way to work this morning to discuss a common thought that I’m having when attending events, watching my Twitter stream, or even working with my own agents:

The constant looking and researching, “what’s next?” and over-inundating of data we consume is actually paralyzing us as individuals.  Instead of actually putting something into action (or focusing on existing efforts that bring us business/engage our clients), our constant “shiny object syndrome” is actually hindering our success in business – or as implementers of actual actions.

Some quick thoughts below on this topic.  I would love to hear thoughts and/or discussions on this with examples that you have actually “implemented” or put into place.

Paralysis by Analysis – The story of Web 2.0 from Matthew Dollinger on Vimeo.

Picture courtesy of "Not the First Noel" via Flickr

It was during the follow up to the opening Keynote at BlogWorld Expo 09 when this idea came to a head.  On the stage were big hitters of both new and old school journalism including:

Brian Solis – PR and Web 2.0 mega celebrity

Jay Rosen – journalism professor at NYU

Hugh Hewitt -  American radio talk show host

Don Lemon – CNN anchor and journalist

Joanna Drake Earl – President, New Media, Current TV

The discussion entitled, “The Death And Rebirth Of Journalism” focused much around citizen journalism, it’s benefits to media, the problems due to it, and where to go next.  It was a heated discussion (Lemon – the only “traditional” channel there – who I was incredibly impressed with) fueled on by the media-blitz of Balloon Boy the day before.

I took away three major points from this session (according to my notes):

1) Blogging and Micro-blogging allow the individual (viewer) to choose what they find is important in the world news feed.

2) Traditional media is still focused on a cost structure model – hence why they will highlight “minor or pop” news stories to gain exposure = costs.

3) Distribution issues of news – does the world view (CNN, NBC, Etc.) these major hubs of distribution as “the” most credible for news/current events?

And so – a question started brewing in my mind with regards to this:

“Why wouldn’t CNN or another traditional media player:
1. Put together a “journalism” training class (i.e. how to write, how to quote sources, etc.)
2. Encourage their most “raving fans” to take these classes
3. Turn them loose as “certified” citizen journalists
4. Reap the harvest of “on the ground” stories, well written, and sourced by sending them to editorial?

Imagine, in my case being a huge Keith Olberman fan, MSNBC taps you on the shoulder and says to you:

“Matt, we’d really like you to become a MSNBC citizen journalist, take a couple of basic classes on composition and source citing, write/film/video all the news you feel is news, and then joint publish it with our editorial staff.  It will be great exposure for you as a blogger, bring you a ton of readership, and get your local stories out to those who want to know about them.”

Sounds like everyone wins right?  Not so fast…

In the next session I actually got to pose this question to Robert Scoble who (kind of) answered it after I pushed him on it.

<Paraphrased> “We don’t need big media.  That’s the beauty of social media.  The big brands are dead in the water.  No one “watches” that anymore.  When I was with Fast Company magazine my blog readership didn’t go up at all.  I have 50K twitter followers that are reading my stuff anyway.  Why do we need to “teach” any kind of journalism?  The kid with a $1000 camera can be a video producer on his own.”

Disappointment… Not only did he trivialize the idea I suggested – he actually called a Spade a Spade.

It’s US versus THEM – New Media vs. Traditional – and be damned the idea of actually working together.

Tweet of the day on this subject – “RT @saulcolt: People keep talking about old media & new media…we need to start thinking of just “media” and make it great. #bwe09 via @erin_bury”

I don’t think it would have been so black and white if I hadn’t attended a fantastic keynote the night before by Chris Brogan.  I had never read much of paid Chris alot of attention until he brought up my all time favorite author Tim Sanders - and his book “Love is the Killer App.”  In this book Tim talks about becoming what he calls a “Lovecat” by fulfilling 3 simple tasks.

1.  Share your Knowledge

2.  Share your Network

3.  Share your Compassion

When I sat listening to Robert speak about the question I had presented, it struck me that, “Collaboration for these guys is absolute Bullshit – although it would be in the best interest of the consumer.”  It’s not about “how do we get the BEST news to the public”, it’s about, “do them come to my site, your site, or who’s site to read my “take” on the topic.  It was truly truly disheartening.

In the Dachis Group whitepaper, “Social Business Design”, Peter Kim explains this legacy system of “Us vs. Them” excellently.

“Us” Vs. “Them.” Competitive strategy drives businesses to hunker down behind the physical walls of an office and the virtual walls of a brand. Customers are seen as “targets” whose participation is limited to handing over money. Competitors are seen as “enemies.” Suppliers are viewed as “necessary evils.” This approach to business may produce short-term results, but at the expense of true collaboration and long-term results – everyone benefits when these relationships are viewed as an ecosystem of related collaborators rather than competing interests.

It’s humbling and often-times disheartening to come to this kind of realization.  That the “Us vs. Them” mentality prevails even with supposedly forward thinking companies or people.  Could you imagine the result if someone of the stature of Robert Scoble gave “how to video worthy of the national news” seminars?  Or if an editor at CNN did webinars on “how to write copy like a NYU journalist?”  I think the PR alone would be worth any words of wisdom that your competitors might pick up.

Many will agree with Robert and say that, “the audience you’re looking for isn’t watching CNN” and I will disagree.  Especially at an event like BlogWorld it’s easy to get caught up in the whiz-bang, what’s next society and forget that 90% of Americans still turn on the television or read the Washington Post instead of the Huffington Post.

Collaboration could possibly be the cure all to what ails us – but until we dump the “Us vs. Them” mentality and start operating from a level of abundance (and strict ROI) I think we have a long way to go.

This is the first of a series of posts expressing insight into certain topics covered during my recent trip to the Blogworld Expo 2009, in Las Vegas.  You can view all my notes/thoughts and rambling by clicking here“

So, maybe I’m a little bit biased (since it is was my educational focus), but this thought was rumbling around in my head during the entire expo event.

“Engineering is the heart of everything in your business”

Here’s what I mean:

One of the most talked about buzz-words/concepts at BlogWorld this weekend has been about “strategy”.  Your social media strategy, your marketing strategy (both “new” and “old”), your engagement strategy, etc…  It was a very refreshing take since many of the events and discussions I have been apart of in as of late have been a “just do it” mentality – especially with regards to social and online media.  Many speakers and panels alike discussed the necessity to not only embrace new concepts and technologies, but to take on these challenges with a well thought out strategy.

So how do you “build” a strategy?  To me it is actually multi-phased, and rather than being “built” it is actually Engineered.

Step 1. – Understand – The questioning/fact-finding phase

Step 2. – Assess – What do we know/have at our disposal?

Step 3. – Design/Visualize – Laying out an “if this then that” map/Start with End in mind

Step 3. – Analyzation – Learn/ Assessment of collected data/engagement/results

Step 4. – Adaption Process – Using Gained knowledge to learn and improve.

Step 5. – Repeat – Using gained knowledge, reassess from Step 1

Are you an engineer?

It’s easy (and yes some even consider it sexy) to call yourself a consultant, social media expert, or marketing person.  No one ever tends to consider themselves an engineer.  But in this time of “geek ascendancy” and shrinking/disappearing budgets, I personally think it’s necessary to approach EVERYTHING from a standpoint of engineering.

Too often I see “brain storm” marketing campaigns tossed together without thought of consequence leak from individuals or companies.  I might even suggest that engineering is the “new rule” of marketing or business in general.  Since “new” media especially has given everyone a soapbox to shout from, isn’t it even more important now to fine tune your role out before launch?

The end of “Test” Markets – an example

What do you mean you're not hungry?

Back in the day, when McDonalds or any other company wanted to roll out a new product they would do geographical/regional testing.  For example – if they were looking at releasing, oh…, the McRibb Sandwich – they might do some research and find that barbecue is most popular in a particular region or market (i.e. the SouthEast).  They would then contact their franchises in that area, prep them on marketing and preparation of the item, roll it out to the public and see how it was received.

If it succeeded – great… our data shows it’s successful in BBQ market.  If not – no worries… we rolled out a crappy item to only one area and not to the whole country.

Today.  If McDonalds did that today, they are unable to confirm that poor (or good) response to the particular item would be confined to the target region (and a small trickle of Word of Mouth marketing to outside areas).  Due to the expansive reach of the social web the poor response would creep like wildfire across the country – reflecting poorly on the McDonalds brand.  The question I pose to you is – “How many leaks has your test-marketing already caused?”

I am not a marketing expert

I am sure that some will disagree with the things that I have written above, and many are more insightful/creative than me when it comes to marketing.  My strength isn’t in writing passionate copy or Adobe Illustrator.  I’m a process guy.  In my mind there is a Beginning – a Process – an Outcome – and Analysis.  And where I might have traded my pocket protector for a laptop, the core of an engineer will always revolve around problem solving.

This is the first of a series of post both on what I learned while at BlogWorld Expo 2009, but on a larger level to help those in my network to start approaching their business from an “engineer’s mindset”.  Who knows… maybe you’ll even start to feel that engineers are sexy.  Intel does!

Matt Dollinger
The You Factor

Image courtesy of themiddleway.net

Recently I had  an incredibly meaningful conversation on Twitter involving Jeff Turner (@respres) and  Ines Hegedus-Garcia (@ines) where we discussed Social Capital versus Social Karma. The conversation was actually started by Kim Wood (@kimwood) with a simple tweet stating, “Whuffie or Building your Social Capital should not be done with the intention of “building your social capital”. I’m jussayin.” She rocked my world with this and the discussion began.

For me, this hit the nail on the head because I have always been a little leery of how people were using the term of “social capital”.  I’ll disclose that I have read “The Whuffie Factor” as well as the predecessor of this with regards to Social Capital, “”Down and out in the Magic Kingdom”. But this isn’t a book review, this is simply my take on Social Capital, what I will refer to as Social Karma, how they affect one another and more importantly that they two are not mutually exclusive.

Ines has written a brilliant post on our conversation over at Agent Genius entitled, “Social Media Politics can Suck You Dry” which sparked a wonderful conversation of comments.  It’s written from her point of view and perfectly honest.  As she says in her post:

“There is so much talk about being genuine and doing things for a greater good without expecting anything in return, but to tell you the truth, most of us are here to make money and to improve our business.  This doesn’t mean we can’t have fun in the process and show our personalities, but I’m not Ghandi or Mother Theresa – I volunteer my time, I raise money for charities and truly believe in the Universal Law and Power of Intention – but my time here has a goal and I have strategies for business as should you.”

God bless you Ines – you are totally on point and have spoken the truth about your intentions on social media.  She succinctly puts the difference between Social Capital and Social Karma into a beautiful one word (and very Zen) sentence.

Social Capital is a way to quantify your presence and the depth of your involvement whereas Social Karma goes so much deeper than that.

Karma and Capital

Social Capital has many different definitions and has been around for years prior to the best seller “Whuffie Factor”.  It has not always been positive, however, and its negatives are discussed in depth in the book “Down and out in the Magic Kingdom”.  In it (and other books) the negative elements of secular Social Capital are explored in the terms of Bridging vs. Bonding Social Capital.  This, however is another post for another day… (but can be referenced here)

Quantifying or calculating your Social Capital is a huge discussion with regards to Social Media/Networking today.  It is often times discussed as a piggy bank where deposits are made (by a means) for future withdrawal (i.e. asking for something in return).  What often times is NOT discussed is your potential Social Debt (or Karma) when operating in this social capital marketplace. Where this is the means to the end, I believe that what affects these deposits and debt is where my idea of Social Karma comes into play.

But what is Social Karma?

First of all, Social and Karma are kind of redundant (as pointed out by @repres) since Karma already has to do with society as a whole. But I want to use Social Karma to indicate that I am discussing Karma with regards to “Online Social” interactions.  To understand, (and these are my opinions only), I think we need to understand what the principles of Karma really are.

“Karma is the universal principle of cause and effect. Our actions, both good and bad, come back to us in the future, helping us to learn from life’s lessons and become better people.” – Wikipedia

Social Karma is then, in essence, the overall world in which all things reside with regards to a society.  Social Capital; respect, influence, and all of the other benefits and negatives actually reside within the world of Social Karma.  Karma is basically energy. One person throws out energy through thoughts, words and actions, and it comes back, in time, through other people.

The process of action and reaction on all levels—physical, mental and spiritual—is karma. One must pay attention to thoughts, because thought can make karmas—good, bad and mixed.

A big part that is often overlooked in this is that Karma is both good and bad.  It’s not ALWAYS your positive actions and rewards associated…  your karma can also be something selfish or negative that adds to your overall cosmic debt.  So with this being said, Social Karma (in speaking about Social Networks/Networking) is actually the MEANS, or one way, in which one can actually affect their Social Capital (or make deposits into said piggy bank).

“Karma is the best teacher, forcing people to face the consequences of their actions and thus improve and refine their behavior, or suffer if they do not. Even harsh karma, when faced in wisdom, can be the greatest spark for personal growth.”- Wikipedia

So here’s my thoughts on this:

Social Capital is what you seek
(influence, reach, positive or not)

Social Karma is HOW you get there
(consider them guiding principles, ethics, beliefs, or your energy)

There are three types of karma in Hinduism:

1. Sanchita karma -  the sum total of past karmas yet to be resolved;
2. Prarabdha karma – that portion of sanchita karma that is to be experienced in this life; and
3. Kriyamana karma -  the karma that humans are currently creating, which will bear fruit in future.

Sanchita Karma (Sum Total Karma or “Accumulated actions” or the Arrows in the Quiver)

*This is your total cosmic debt. Every moment of your every day, you are either adding to it or you are reducing this cosmic debt.

Praarabdha Karma (Fructifying Karma or “Actions began; set in motion” or Arrows in Flight)

*This is Karmic Template of that portion of Sanchita Karma that is ripe enough to be experienced by you and allotted for this lifetime for you to work on.

Kriyamana Karma (Instant, Current Karma or “Being made” or Arrows in Hand)

*This is the daily, instant Karma created in this lifetime and that we create in our life because of our free actions. These are debts that are created and worked off – i.e. for example, you park your vehicle in a ‘No Parking Space’, you get caught and you are fined (punished) immediately.

What the hell does this all mean?

An 800lb gorillas in the room that no one usually discusses, (except Ines!),  is what you seek through gaining social capital, or what is your intention for growing it?  Whether it be business, respect, more readers to your blog, speaking engagement opportunities, or simply ego-driven popularity – I would venture to say that everyone has some kind of reason for building social capital.

This isn’t necessarily a bad thing, but as @joespake said the other day “there seems to be alot of posturing and less actual genuine participation”.  As a business coach, I would even venture to suggest that you make sure you have some kind of strategy for building this.  But does it have to be your defining ultimate task?

I think this is the million dollar question.

The idea of “Whuffie” is based on the idea of a “post-scarcity” economy as described in “Down and Out in the Magic Kingdom” and we are far from that in today’s society of  real life.  People still need to make a living and close deals to pay the mortgage, (regardless of social capital I’m not thinking that your bank is going to accept it to pay off your mortgage).  Also, we are all human beings and often times think about ourselves first (which isn’t always bad… as Ines says we are not Ghandi or Mother Theresa).

I think that this is all about balance (and yes this is me trying to bring it full circle).  Personally, I’m not looking for any kind of financial gain through my online contributions, but like anyone else I enjoy being quoted, tweeted, asked to speak at an event, etc.  It benefits my self-esteem, my self-worth, and makes me feel good by doing it.  But at the same time these actions benefits others because I focus on providing value to them through my thoughts, words, presentations, teachings and research.

Some might take a look at this sentence above and say, “wow – that’s egotistical or self serving.” But this is me being honest and open about the goals of my Karmic Actions and truth – is me being genuine and authentic through transparancy.

In closing and through much thought on this topic, I think that Social Karma and Social Capital are intertwined regardless of your take on my post.  Whether your are a “Whuffie” fan or not, Social Capital and Karma are just revisits to the Golden Rule of which we were raised on as a child, “Treat others as you would want to be treated.” I think that by approaching Social Karma as “the defining principles” as to how you build Social Capital, it allows us all to formulate (one again) guiding principles or guidelines for your online campaign.

It's gotta be the shoes...

This year I decided it was going to be THE year for golf improvement. I had never really considered myself an “avid golfer” in the past although I have chased a ball around since I was 12. It’s simply been a pleasant way to get outside with friends and enjoy the day.

At the beginning of the season I was invited to play at an outing at probably the nicest course I have ever played. I was partnered with the club champion (who was an absolute saint) and proceeded to shoot the worst game of my life. So on the way home I pledged to myself and the golf gods above that I would get better this year.

To do this I did what most golfers do – I headed directly to GolfSmith (the golf mega store) and dropped a couple hundred bucks on a new club that I was sure would “change my game”. Next weekend, with savior club in hand, I headed out with friends and proceeded to shoot an even worse round.

What happened? I spent a good chunk of change on the latest and greatest technology to improve my game and still nothing? Was the club defective?

The next day I was on the GolfSmith website AGAIN and saw and offer for their golf school. It was an hour lesson discounted where they would analyze your swing. “This was it!”, I told myself. The cure all and all it would take was another hundred bucks, and I would be a pro! Awesome! They promised the latest in technology, whiz bang and other stuff. I couldn’t fail.

I met my instructor the next day and hooked me up to a mutli-camera-angle computer with all kinds of elaborate graphs and monitors. This was going to do it – Golf 2.0! At the end of my lesson Chad, my instructor, provided me a number of tips, tricks, and fixes for my game. I was astounded by the insight provided and could almost visualize myself hitting consistent 300 yard drives straight down the fairway. Then the truth came in…

“If you can do some of these things your game will probably improve”, said Chad, “but to truly get BETTER and consistent with your game we need to start from scratch. You have really bad habits from your grip through your follow through that are hindering your game. You need lessons focusing on the fundamentals of golf to really become a good golfer.”

What? No quick fix? No computer aided harness that I can wear on the course? Can’t I just throw money at the problem?

“No”, Chad replied. “It doesn’t work like that. It all comes down to educating you on the proper swing and core fundamentals, learning the advancements of the game and practice, practice, practice. That’s why there are so many bad golfers out there, because people don’t want to work at the issues that are there. They want to buy the latest club, putter, DVD or single lesson to get better.”

Fast forward three months to this weekend. On Saturday I shot the best round of my life, an 86, at Foss Park in North Chicago. What lead up to this?
* 12 one on one lessons with my instructor Chad
* 20 practice sessions at the bay
* 40 large buckets of balls at driving range
* Countless hours at the park with the dogs practicing

My point with all of this, (insert Real Estate Analogy FINALLY!) is that Social Media and any other “quick fix” that’s promised to you by a Facebook or magazine ad isn’t going to cure an ailing real estate career any more than my $200 driver did my golf game. In fact, COACHING isn’t going to fix your career either unless you are willing to do the work OUTSIDE of coaching to advance your career.

There has been exponential growth in the “Social Media Coaching” sector across all industries. Former agents and others have been popping up with “Expert” and “Guru” in their title/job description promising, “Increased leads and ready-buyers/seller tomorrow!” As a coach this makes me sick, because many of them are preying on desperate agents that are watching traditional marketing avenues dry up, their bills pile up, and closings completely evaporate. But it’s the quick fix. It’s the magic bullet to many. And some will look to this as the Dexedrine of the Real Estate industry.

The long and short of it is that, you cannot afford to be a “good” agent any longer – and being a “GREAT” agent doesn’t start with your Facebook or Twitter prowess. It starts with you knowing each and every nuance that has developed in your industry as of late. It includes knowing market statistics, financing questions, hyperlocal neighborhood information, school district boundaries/test scores, and killer negotiation and contract skills (for a start). It’s going to take you just as much time (and possibly more) as it took me at the driving range and practice bay to REALLY differentiate yourself as an agent.

The difference is that much of what you need to learn and know is free. Free educational classes through your association, free knowledge sessions from your preferred lender, free webinars from people like Reggie and Nicole Nicolay on how to use Social Media, and free resources like I put on my blog here under the “LEARN” section. There are people out there that might not spend the money to advertise in “Realtor Magazine” or pay for Google Keywords, but are closer to experts than many that do – (although they will probably NEVER call themselves an expert!)

So if I could give you a dollar’s worth of advice:
* Get off Twitter/Facebook and go to your association’s training
* Go out to coffee with your lender to hear about financing
* Read industry publications that discuss changes
* Shadow an excellent agent on a listing presentation
* Ask your broker for help
* Go on broker open tour and pull stats for that area
* Commit to becoming a GREAT agent

It all begins, continues and ends with the mentality that the career you have chosen is hard work and you need to continually evolve with it. You deserve to be a great agent, and more importantly your CLIENTS deserve you to be a great agent. Make a commitment today to learn how.

“Are you a real estate salesperson or a real estate advisor?”

I have asked this question hundreds of times to hundreds of agents across the Nation. And where the answer is variably different, in many cases it is still the same.

“I am here to advise my clients to make an informed, educated and advised decision that suits their budget, current and future needs.”

I take this answer at face value…  call me a cynic, call me jaded, but there’s a 600 lb gorilla in the room called “commission” that contradicts this statement for many.

As a RealtorR:

- I am compensated on the volume of transactions that “close”

- My “split”, or % of the gross commission awarded to me is determined by my production, or closed volume (i.e. the more I close the higher the % of gross commission I keep).

- So in order to pay MY mortgage, car payment, grocery bills, etc. I must actually CLOSE transactions.

The quagmire that is presented here:

1.  To be a true “advisor” and recommend AGAINST buying a home if it does not fit their budget, lifestyle, or current situation means that I am not going to make any money.

2.  To be a true “advisor” and recommend that someone spend less money than more money on a home means that I, in turn, make less money from the transaction.

3.  To be a true “advisor” and recommend that someone “hold off” on selling a home at the moment due to market conditions, net return/loss, etc. means that I am not going to make any money.

4.  To be a true “advisor” and recommend someone not purchase/sell a home at this time means that I have less volume “closed” working towards an advancement in commission split.

I believe that this is one of the glaring contradictions in the current real estate brokerage model, and one that I don’t have a concrete opinion on how to fix.  But that’s not what this post is about… There is raging online commentary on the commission/brokerage model of the future across the web, and this post isn’t intended to enter this arena.

Too many times have I heard the following:

“I’ve shown them 40 houses and they still won’t write a contract!  I just want them to buy something!”

“I don’t know what their problem is… we’ve seen everything and they still won’t write an offer!”

“I wish they would just buy something”

You are a real estate professional.  You have taken an oath to serve your clients and advise them to the best of your ability.  This “advising” is not limited to the negotiation of the property and searching of the MLS, you are in the truest form, a financial planner for their current and future home situation.   I apologize in advance for what is to follow, but the situation at hand absolutely sickens me.

Dan’s Story

In this video we meet Dan and his family that were lied to about the mortgage “teaser” rate that was applied to the purchase of their home.  Where 98% of the agents that I know would never partake in this type of scam, the emotion is real.  Dan is simply a voice and face of the American Home Buyer who had done everything right, budgeted, and saved to purchase a home for his family.

A Day in the Life

Most have dealt with or seen the aftermath of the Foreclosure process.  An empty house with boarded windows, appliances, basic fixtures, and even copper piping stripped from the house.  But put yourself in the above situation and think about “the day of”.  Then… think about the last client you worked with.  Would you wish this upon them?  After the countless hours of family talk, time together in the car, discussion of kids, pets and dreams, this could be their “next step”.

Wanda’s Story

Rather than vacate her foreclosed upon home, Ms. Wanda Dunn set fire to her family home before turning a gun upon herself and committing suicide.  Extreme… yes.  Commonplace… no.  But have you ever really wondered what someone faces for the future after foreclosure?  Aside from the emotional, personal and embarrassment factor of losing their home, they face the following to their credit score (courtesy of About.com)

Let’s make it a Party…

And how do some deal with the grim element of this problem?  What empathy and understanding do some brokerages employ to rectify an issue that out industry “to some level – let’s be clear…  SOME LEVEL” helped to create?  That’s right… we hire a bus, paint it accordingly, dish out some cocktails and make it a party.

Many reading this will respond with, “Those aren’t my clients”.  They might not be.  But they are the stories of middle/working class families of ranging ethnicity’s that we have turned a camera on.  But please don’t fool yourself as  it is happening.  Middle class or upper class, it is happening daily to clients just like yours.

There are exceptions to the rule just like anything else.  There are those that went to developers directly without direction from an agent.  There are those that took out huge lumps of equity to spend on cars, plasma TV’s and other luxuries.  But there are many stories, maybe one on your block, that haven’t made it to YouTube.

All points to what infuriates me more than anything else… the blind eye of our industry and our focus on the “expendable” client base.

In a post on Agent Genius the other day, a contributor wrote about the “11 Things A New Agent Should Know”.  It wasn’t necessarily a bad post, or the first that struck me in such a way, but it was timely and set me off.

Of the “11 Things a New Agent Should Know” there was not one mention, not an inkling, to market knowledge and further education.  “Stay Positive”, “Be Yourself”, “Don’t be Afraid to be Wrong”, were the major points to be made.  Not one, “Get to Every Training you Can”, “Learn about REO Properties or How to Avoid Foreclosure”, “Educate Yourself on Current Financing” or “Budgeting for Home Purchase”.  Stay positive and don’t be afraid to be wrong… everything else will work itself out.

There is a group within the industry that I believe should be allowed to call themselves a Real Estate Advisor, and I am proud to say that I know many of them.  They represent a group that is both educated and empathetic… a group that puts their clients’ needs above their own.  These are the future of the industry in my uptopian-style rosy-glass future.

The two things I will end with are below:

1.  To Consumers – you deserve the best.  You deserve an advisor.  This is the largest purchase you will probably ever make and $250,000 is still a quarter of a million dollars.  Take your time and make an educated desicion.

2.  To Agents – strive to be or become a real estate advisor.  Take your job as serious as it truly is and understand that you are in charge of their financial future.  Don’t be good be great.

Matt Dollinger

The You Factor

Is this Kansas?

My mind can’t be bothered with trivial detail this though!  Hell no man… no time. I’m heading to Inman!  The mecca of Real Estate and all things technology.  Glorious waterfalls of bits and bytes flow at the Palace or so I’m told.  Sunrises filled with countless ideas and ways to save the albatross that is the Real Estate industry.  I grit my teeth with anticipation as the girl with the MAC next to me, (I thought they never used up their batteries???) yammers on about her boyfriend’s lack of job offers.  San Francisco here I come!

I tend to overdo things… set my expectations a little too high (just ask Mrs. Homepartner!) and so I decided to boil my “wish list” for the Utopia that is Inman down to a simple Top Five Takeaways list in hopes of actually seeing my unicorn.  But first some history on why I feel this list is necessary.

1.  Not just innovation, but implementation
Gimme big, bad, cutting edge innovation… I have naughty-hot dreams about this kind of thing at home.  But give me some case studies with metrics and analytics as to HOW you have implemented it and WHAT your clients think of it.  I honestly believe that there’s a growing void between 1. real estate consumers and 2. real estate innovators.  Where each one of our latest and greatest applications may blow the minds of the resident “tech geek” I keep asking myself, “Will it play in Peoria” (and not just because I grew up there.)  Sure, blow my mind, but tell me the bottom line ROI, ROE, or whatever metric you’re using to gauge it’s usefulness as well.

2.  Don’t just tell me… Show Me
I’m really sick and tired of this ongoing brain-orgy of thought revolving around, “the future of brokerage”.  Shut up and show me.  Someone throw $250K at Rob Hahn and let him REALLY give your brokerage a makeover… PLEASE!  I’m tired of talk, I’m tired of speculation.  I want to hear someone tell me that they did cutting-edge-X and the outcome was mind-blowing-Y.  someone please grow a set and try something new.

3.  Talk outside of the Real Estate Industry
I’ve written a couple of posts about this topic (See posts here) and truly feel that the answer as to what ails us as an industry lies out there, but it sure as hell doesn’t reside at your competitor’s office.  I was truly excited to hear that the keynote address was being delivered by Jeremy Stoppelman from Yelp! as I’m a huge fan of their company.  But give me some more.  Let’s talk about implementing an @comcastcares model for real estate, or how you could do what Dell did in the early 2000’s and give your company a 180.  THAT’s what I want to hear!

4.  Give me some kind of measurable return on Social Media
I get it, I’m on it and I like it alot.  But, the next “coach” that gives a webinar on how to scrape leads from Facebook is going to find out why I keep my FOID (Firearms Owner Identification) card active.  Maybe I’m sensative to the subject because I work with agents day in and day out who are on the front lines suffering, but regardless I’m sick of the scavenging from gullible agents.  All I want to hear is that; agent Jim did 5 million dollars in 2008 and now spends # hours blogging, # hours on Twitter, # hours on LinkedIn consistently each week and has seen his business increase by 20% this year.  That’s it. Give me some numbers.

5.  Give me in a “true” brainstorming group
Don’t micromanage it with a preset adgenda… Don’t give someone with 20K follower on Twitter the mic and a powerpoint… Give me a room with 50 of the “smartest” people in real estate today (brokers, agents, and outside people too) and present us with 1. a problem 2. a bigass whiteboard and 3. an infinite supply of good coffee.  Videotape it, stream it live, open up a chatroom and we could conquer any challenge.  Hell, make it a monthly event and charge $19.95 to watch it and we’ll even create a profit stream.

6. (Bonus!) Give me face time my social network
Ok… so this is out of Brian’s hands and rests in mine alone, but this could actually supercede the previous 5.  Online is great, but F2F is the end goal in any relationship.  If I could tell you all that I have gotten out of my brain dumps with Rob Hahn, Eric Bryn, Marc Davison, Brian Boero and more… I would have to request more space from Host Gator.  This is what events like Inman are all about so reach out to those you have never met before and start like this.  “Hey @<insert clever Twitter handle here>… It’s <your clever Twitter handle> good to actually meet you!” It’s not hard, and I personally guarantee the akwardness will wear off after the first time.

Am I asking too much?  I don’t think so.  Although a teleporter ride from the airport would be nice.  Maybe next year… and if you’re out there in San Francisco and you’re looking to hook up and wrap… 773.354.9681 is the cell.  Looking forward to talking to you IRL.

Matt

In my last post, “Lovecats, Likeability, and a Plan to Save the World“, I discussed the teachings of someone very influential to me.  Tim Sanders, New York Times bestselling author of “Love is the Killer App“, “The Likeability Factor“, and most recently “Saving the World at Work” has been teaching the ways of the “Lovecat” for years.

As discussed in my previous post, the “Lovecat” method focused on approaching your life and business by “Obeying the Law of Abundance”, and sharing your contacts, knowledge, and compassion with those around you.  This mentality was a predecessor to the Social Web mentality that dominates the “proper” uses of social networks and collaboration today.  Because of this, and his forward thinking towards best business practices, I asked Tim to answer a couple of quick questions for me as to his prediction of business today and moving forwards.

(Q&A between Matt Dollinger “MD” and Tim Sanders “TS”)

MD – Describe how you feel the Likeability Factor and Love is the Killer App have changed for today?

TS – Both are still true.  The L Factor, in particular is important as it can look after you during tough times.  More than ever, we need to inspire others with our outlook.

MD – Any insight into the Lovecat method and the rise of Social Media?

TS – Giving rocks.  The Lovecat method (grow others, trust them to reciprocate) lies at the heart of social media.  That’s why I find Twitter and Facebook so valuable to society.  We must, however, give not take in our social media work.

MD – How would you suggest a company/business transition to “Lovecat” if they weren’t before?

TS – Trial and trial and trial.  If you will give giving a chance, and a reasonable long time line for return, you’ll get hooked on it.

MD – What do you feel the biggest challenge of business today is?

TS – Overcoming the scarcity mindset that’s setting in with the recession.  When we believe that “there’s not enough to go around”, we get fearful and inward thinking.  That’s the enemy to innovation.  It’s time to defiantly be hopeful.

MD – How do you feel Social Media has changed business today – forever?

TS – Social media has made the world more transparent and smaller.  Add video on mobile phones with easy upload and there are no more secrets.  This will force companies to focus on do-no-harm+do-some-good instead of simply being less bad or complying with the law.  Ray Anderson (founder of Interface) once told me that compliance was “being as bad as the law will allow.”

MD – What is the #1 question that is asked of you in your speaking and what’s your answer?

TS – Question: What do you do when others take advantage of your giving nature?  Answer: Look the other way, because it only happens about 10% of the time at the most.  Don’t let your ego tell you that giving never gives back because it does.

The “Law of Abundance” as Tim writes about often should, in my opinion, be the new “Golden Rule” for not only Social Media, but for business and personal growth as well.  Take a few minutes, view the videos below, and share your thoughts… This time the good guys WILL finish first!

Abundance Versus Scarcity Part 1 – Tim Sanders

Abundance Versus Scarcity Part 2 – Tim Sanders

Abundance Versus Scarcity Part 3 – Tim Sanders

Read more posts like this by Matt Dollinger @ www.TheYouFactor.com or follow me on Twitter here.

Epiphany (def): a sudden, intuitive perception of or insight into the reality or essential meaning of something, usually initiated by some simple, homely, or commonplace occurrence or experience.

Many of us have had these monumental life-changing moments of discovery.  Sometimes they come in the form of a higher level of understanding, consciousness, or other moments of clarity.  I can honestly say that I’ve had a couple of these instances in my life, and I consider myself lucky.  But the one that I feel is best serving for today’s marketplace, for the difficulties and challenges we are all facing in the world today, came to fruition in the one of the most unlikely places for authenticity and delivered by a hipster in a suit with a microphone.

In a previous life, I served as Director of Career Development for a Prudential affiliate here in Chicago.  Yearly the Prudential franchises all get together at their national convention for a week long celebration of top producers and branding hoopla.  2005’s celebration, at the pinnacle of real estate’s glory day, was held in Las Vegas.  Somewhere near the end of the convention, in a morning keynote session filled with hung-over agents, (and just as many empty chairs), I met someone that would change my life forever.  I had never heard of him before and hadn’t read his books, but the message that was delivered was timely, embraceable, and (in retrospect) a precursor to where we are today.  The moderator introduced him as the Chief Solutions Officer, (CSO), of Yahoo! and here began my life as influenced by Mr. Tim Sanders.

A skinny guy in an ultra modern suit took the stage, began his presentation, and I was mesmerized.  For the next 45 minutes I didn’t take notes, I didn’t write or check emails… I sat and listened, hanging on every word.  He didn’t talk about marketing strategies, direct mail, or lead capture.  Tim simply preached a message of social karma he referred to as “Love, the Killer App.” and from that moment on, I considered myself a Lovecat.

The three steps to becoming a “Lovecat” and instituting a campaign of “biz love” into your career are as follows:
1.  Share your network with those you connect with
2.  Share your knowledge with everyone who might benefit
3.  Share your compassion with those that need it

Tim went on to use examples of this new mindset, tell stories of “Lovecat Achievement”, and read exerpts from his two books, “Love is the Killer App.” and his newly released (at the time), “The Likeability Factor“.  Each point he made was crystal clear, almost as if reminding me of something I already knew, yet forgotten or locked away deep inside.  And maybe that was it… maybe it was simply professional reinforcement.  someone accomplished and respected in the “new” business world that simply said to everyone listening, “It’s ok to be a nice guy/girl. And not only is it ok, but you will be more successful in business and in life by being a giving, sharing and caring individual.”

I ordered both books from Amazon as soon as we got home from Las Vegas and literally devoured them many times over.  I highlighted, made notes in the margin, dog-eared pages, and clipped excerpts for my presentations.  My “new agent” training began to include an entire section on “Releasing your Inner Lovecat”.  I ordered copies of “Love is the Killer App.” in bulk, began writing notes to people I knew or met inside the cover, and giving them out at random.  I reorganized my reading behavior so that I could become a resource to those around me at work and in life.  Networking events became quests to distribute new found knowledge and share insight with others.  I was more than an advocate, more than a fan, I was a prophet for “biz-love” and I have never turned back.

The Lovecat, Social Media and Karma

I’ve always thought that real estate is the perfect industry for a “Lovecat”.  From the first days of training, agents are taught to cultivate their sphere of influence, ask for referrals, and continually add to their database.  Unfortunately most training programs are focused on the acquisition of contacts and not the engagement of them. As 1000watt Consulting so brilliantly pointed out in their video, “I Am Not A Lead”, we refer to our circle of influence as leads, contacts, and databases.  We capture them, drip on them, and bombard them with the N.A.R. mantra that it’s always a “Great Time to Buy”.  Even now with the evolution of Social Media/Networks, coaches charge hundreds of dollars to attend seminars and webinars geared at adding more and more people to your <insert social network here> “friends”.

But those who are really using this wonderful new technology correctly are different, and it struck me about a month ago when I was re-reading “Love is the Killer App” for the hundredth time.  “Sanders predicted this 5 years ago.”  Back before Facebook was more than a college network, before Twitter was a concept, before Web 2.0… the “Lovecat” mentality was changing the REAL world and how people interacted with one another.  Think about it.  Isn’t this what the mentality of the Social Web is all about?

1.  Share your network – (#followfriday, LinkedIn introductions, Facebook Friending)
2.  Share your knowledge (Twitter link sharing, RSS, blogging, etc.)
3.  Share your compassion (genuine interaction, collaboration, help)

The lines that once divided life and business are forever erased.  My favorite analogy is that our parents were actually part timers in the workforce compared to us today.  We are being forced, whether you like it or not, to embrace a genuinely authentic brand that carries into both our personal and professional lives.  And as we adapt to emerging technologies and spread our network of influence further each day, the  Lovecat mentality becomes all the more important for one reason if nothing else.

“We as people (both providers and consumers) don’t have the time or desire to affiliate with those not providing value to our lives in one way or another.”

This is no difference from one industry to another today.  Online or off, we have come to expect value from those that we choose to associate with in one way or another.  Value might not be the correct term for what we are sharing today, and so I suggest we use a Sanders-ism presented throughout his books, “Biz Love”.

“Biz-Love” is defined by Tim as a relationship where “I promote your growth intelligently in a win-win sort of way. Biz Love could be mentoring an employee in a way that not only promotes the employee’s personal growth, but increases the value of that employee to the company.  Another example of Biz Love could be bringing customers or partners together to increase the size of their network, their capacity, and their growth.”

The question becomes, “How are you showing and sharing your biz-love with your network?

“Biz-Love” The Only Differentiation in a Commoditized World

“Biz Love” isn’t just THE way to personally run your business, it also serves as THE true differentiator in a world overwhelmed with choice as Jack Trout discusses in, “Differentiate or Die”.  That almost every element of life has become a commodity, is something we can see in business or walking through our local grocer.  True differentiation has become so few and far between, that when something actually STANDS OUT, it becomes more than a brand, more than a product/service, it becomes a movement.  And when I think about brands that have achieved this “movement” status, every single one of them… EVERY ONE… operates from this Lovecat principle.  Think about it…

DELL – facebook videos on how to use social media (sharing their knowledge)
Amazon – if we don’t carry it we’ll introduce you to someone who does (sharing their network)
Southwest - have an emergency and need to change your flight? no problem (sharing their compassion)

I would argue that every business or brand that TRULY stands out to you today is capitalizing on providing their network, associates, clients and the general public with an incredibly high quotient of “Biz-Love”.  I might also suggest that this mentality could possibly be the only true differentiator left.  Service and Quality have become run-of-the-mill expectations.  Price can be a factor, but cannot be considered a differentiator.  Your “Social Karma”, “Biz Love” or “Network Value Quotient” are true differentiators that will set you apart from those around you, ascend you (and your business) to another level, while building a network, or movement, of raving influential fans.

Life, Likeability, and Lovecats

Probably one of the most important, yet underestimated, outcomes of operating from a position of abundance rather than scarcity, is it’s effect on life as a whole.  So many, including some of my best friends like Rob Hahn, spend so much time trying to calculate the metrics behind what I call a Social Karma Initiative, that they tend miss the big picture influence.

Human beings are emotional creatures. We all have certain needs in our lives.  The need to be loved.  The need to be heard.  The need to be understood.  We are also, (whether we admit it or not) ego-driven in both our lives and business.  By approaching life as a “Lovecat”, we are able to feed these human desires and in doing so, live life in a happier, more content, positive state.  In his book, “The Likeablity Factor”, Tim discusses a study that shows that people who were categorized as “more likeable ” typically had better relationships, were more successful, lived longer, and judged their overall quality of life HIGHER than those “less-likeable”.

In today’s world of financial insecurity, job instability and crisis it’s hard to see the forest from the trees.  We tend to focus on “right here right now” results rather than long-term influential goals.  Something like “Social Karma” or “Biz-Love” seems trite while contemplating next months mortgage, a looming car payment, or if we’ll have a job next quarter.  But think about this… From the network that you currently have, “who is doing better in life?”  The Lovecat or the person living in scarcity?”  Take it a step further.  “From those in your network… who would you recommend if a business opportunity arose?” Again, I’m assuming that the first person you thought of fit into the definition of a Lovecat.  Likeability and the Social Karma you provide to those around you make you memorable, enjoyable, and indespensible in our overly chaotic world.

The world as we know it is forever changed and we must change with it.  And where I believe, and can see in my own life, that the “Lovecat”, “Biz Love”, and “Likeablity” are absolute MUSTS to compete in business today, they are far from the silver bullet.  They are principals to set for yourself and your business.  Most importantly, they are a set of values that each and every one of us can put into place tomorrow for they are inherently grained into our DNA as human beings.

And so my challenge to you, regardless of your position or industry, is to purchase “Love is the Killer App”, devour it, share it with everyone around you, and join me as a “Lovecat” in the world.

Read More from Tim Sanders at:

www.SandersSays.com

www.TimSanders.com

or on Twitter @sanderssays