Our New Homes President, J. Van Rose took the opportunity to speak to our agents about the need to face some new realities in today’s real estate market. Here were some of the highlights:
1. Forget what worked in the past and focus on today’s challenges.
Industries, especially real estate, cannot only focus on what worked in the past. When businesses do this it locks them into old paradigms and doesn’t allow for strong growth or new ideas. Instead businesses must push to bring their industry where it needs to be. For example in the area of New Homes little attention is paid to the details of websites to show off the model which is unfortunate because so many of the real estate customers being searching for homes online. Builders are going to have to invest as much resources into their web presence as they do for their model homes. This is because the traffic has changed from only onsite to online.
2. Learn to be Real Focused
The world is plummeting us with information and too often the noise of it distracts us from what really matters. In 1903, Binney & Smith Corporation decided to go after the children’s market by marketing a drawing product called Crayola Crayon. They focused their products and offers to this one sector, never going after a different market. While other competitors diversified, Crayola stayed focused on children’s creativity products. The impact is enormous as according to a Yale study the Crayola Crayon is one of the most recognized fragrances by adults. Children will have used over 700 crayons by the time they are 10, and today Crayola is still the largest maker of children’s art supplies in the world. They did this by remaining focused on their core market but not only relying on what worked for them in the past. They pushed the boundaries of their category and continue to bring out new and innovative products.
Real Estate needs to be the same way. For our New Homes division it meant bringing on a strong online method to the home buying experience – and sticking to that method through the bumps. Creating a system that allows clients to get information about our communities in a concise way that allows the New Home division to track and measure. By doing this New Homes is able to help its clients find the perfect New Home and helps its builders with great information.
3. Surround Yourself with Great Thinkers
It isn’t enough to focus, really focus but industry leaders need to surround themselves with great thinkers who can push boundaries and inspire new thoughts. Van Rose seeks out these individuals at industry conferences like the Builders Marketing Society, watching Ted Talks, or taking the opportunity to read or watch a great movie. The point of this is when you surround yourself with great thinkers it forces you to stretch your own thinking abilities and allows you the opportunity to grow.
4. Learn to be a Risk Taker
In the past five years we’ve learned how to act like turtles, hiding in shells until the dust settles. We have to stop being afraid and start being willing to risk in order to grow. Risk is uncomfortable for most of us, it it involves uncertainty. But, when you combine risk with great thinking you reduce the risk. New Homes took a risk bringing on more online methods of showing their houses and yet, it has brought great reward.
5. Be a Person With Purpose
Purpose driven people still dream, and they dream big. Van loves Susan Boyle as an example of this. A woman in her late 40s who dreamed of being a world class singer but from appearances people doubted her. She took a risk by trying out for Britain’s Top Talent. She shocked the world by singing so well that it made the judges speechless.
Purpose connects to the dreams we have for ourselves, and this can change as life changes. But the point is to keep dreaming, keep risking, keep thinking, keep focused, and keep moving forward.
