mentorship Archives - REM https://realestatemagazine.ca/tag/mentorship/ Canada’s premier magazine for real estate professionals. Fri, 17 Jan 2025 15:30:49 +0000 en-US hourly 1 https://wordpress.org/?v=6.7.1 https://realestatemagazine.ca/wp-content/uploads/2022/09/cropped-REM-Fav-32x32.png mentorship Archives - REM https://realestatemagazine.ca/tag/mentorship/ 32 32 Alexander: The mega team myth—leadership and production trump headcount every time https://realestatemagazine.ca/alexander-the-mega-team-myth-leadership-and-production-trump-headcount-every-time/ https://realestatemagazine.ca/alexander-the-mega-team-myth-leadership-and-production-trump-headcount-every-time/#comments Thu, 16 Jan 2025 10:03:11 +0000 https://realestatemagazine.ca/?p=36735 In his latest column, Re/Max President Chris Alexander challenges the “mega team” model, arguing that leadership and production matter far more than inflated numbers

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What kind of real estate team are you running? Is it one based on ego, or on success?

These are important questions, as we find ourselves on the precipice of what could be the next real estate boom. Lower interest rates are attracting sellers and buyers into the market once more, prices will rise and a flood of new agents (with the best intentions) will follow.

As those agents come knocking on your door, you should be asking yourself: is more really more?

 

The promise and pitfalls of mega teams

 

The “mega team” model has been gaining more attention recently, and of course, it can work, but only under the right leadership. Real estate is a naturally competitive business, and I’m flabbergasted that in today’s transparent world, where everyone can see what their colleagues and counterparts are producing, the size of so many of these “mega teams” still outweigh their production.

 

New agents: The advantages of joining the right team

 

As a new agent just starting out, joining a team can be career changing. Most of your expenses are covered by your split, your marketing is done for you, and you have direct access to hands-on mentorship. The right team can help new agents gain traction and set them up for success, until they’re off and running all on their own. 

 

Team leaders: Balancing quality and quantity 

 

As a team leader, working with top-performing agents can be incredibly rewarding. Imagine the potential of leading a mega team of a hundred high producers – that’s more power, and significantly more income, in your hands.

However, investing in a team with too many low- or non-producers who occupy your office, consume your resources, and demand your attention as a leader is unlikely to yield any meaningful returns. Even if you charge high office fees, retaining these underperformers ultimately distracts from the productivity of your high-achieving team members and undermines their efforts.

 

Strong leadership is the key to navigating market cycles

 

The success and sustainability of a mega team, or any team model for that matter, comes down to two critical factors: strong leadership that is hyper-focused on agents’ success, and agents who sell a lot of real estate. To our home-buying and selling clients, we always tout the benefits of “local” market expertise. This is also the case when it comes to team leaders.

Since booms are sometimes followed by busts, solid leadership makes all the difference. Shooting fish in a barrel doesn’t require much skill and it doesn’t demand leadership, only opportunity. This can be said of an “up” housing market. But what goes up eventually comes back down, and when it does, experienced leadership and a brand invested in its network’s success will help individual agents and brokers weather those up, down and sometimes sideways markets.

 

The bottom line 

 

If you’re a team leader, don’t get caught up in the quantity of your agents over their quality, and remember that the bigger team doesn’t always win.

If you’re a team member, ask yourself if your environment and the people in it are lifting you up and encouraging you to be your best self, or if they’re dragging you down. Be wary of the mega team that doesn’t have the production to back up its numbers.

Leaders are responsible for developing strong, professional agents and ensuring they can weather any storm. Whether it’s the fluctuating economy or a chronic housing shortage, there’s no question that running a successful real estate business demands a whole lot of strategy. Given these macro and micro complexities, make sure your agents are professional and ready to work for the team – regardless of its size.

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Remembering Gary Schnarr, former CREA president and industry leader https://realestatemagazine.ca/remembering-gary-schnarr-former-crea-president-and-industry-leader/ https://realestatemagazine.ca/remembering-gary-schnarr-former-crea-president-and-industry-leader/#respond Tue, 05 Nov 2024 05:00:34 +0000 https://realestatemagazine.ca/?p=35526 In memory of Gary Schnarr: A message from Pamela Alexander, Michael Polzler and Walter Schneider

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In memory of Gary Schnarr: A message from Pamela Alexander, Michael Polzler and Walter Schneider

 

Gary Schnarr was a special person. As a member of an industry with many remarkable leaders, Gary found a way to stand apart from the crowd.

Top producers around Gary were always looking for ways to do more business, and to do it better, but Gary’s goal was to lift those around him and raise the bar on the industry as a whole.

To put it simply, Gary cared.

To us and the ReMax family, Gary was an esteemed colleague and a very cherished, long-time friend. He joined ReMax Ontario-Atlantic Canada/ReMax Integra in the early 2000s, after working as a successful real estate broker and consultant in the Kitchener-Waterloo area and serving as president of the Canadian Real Estate Association in 1995. 

During his distinguished career, Gary took on a variety of roles with gusto, including executive vice president of business development with ReMax Ontario-Atlantic Canada, ReMax  Integra U.S.  regions and ReMax Europe. Gary developed tools, processes and systems, and provided continuous leadership that facilitated the growth of many franchises within the community. 

Gary’s valuable contributions were always appreciated and respected, but most of all, his dedication to education was inspiring. Gary thrived as a mentor, sharing his knowledge and experiences to help others grow and become their best selves.

Gary’s ethics, ambition and hard work helped the leadership team come together as one, which made the business run smoothly for us all. No project was ever too much, and no travel too far. When needs presented themselves, as they so often did, Gary was always there and we couldn’t have done our jobs without him.

Gary was not just an outstanding colleague but a loving family man first and foremost. During our discussions on a personal level, Gary spoke of his children, his dear wife Sharon, his grandchildren, parents and friends. His love for his family was always top of mind, and his work schedule revolved around them, as the centre of his universe. 

We met with Gary when he was diagnosed with early-onset Alzheimer’s. In speaking with him at that time, he accepted the diagnosis in a manner true to his form: with positivity and with class. His strength is unforgettable, on what was undoubtedly one of our saddest days spent with this dear friend.

Knowing Gary was an honour, and we are forever grateful for the opportunity to have worked shoulder-to-shoulder with him for so many years.

In an industry where being number one matters, it’s important to remember that nobody gets there alone. Gary’s accomplishments are incredible, and his drive for a good and better life will always be an inspiration.

Gary passed away peacefully on Oct. 21, 2024 at the age of 73. 

 

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A case for apprenticeship in the real estate industry https://realestatemagazine.ca/a-case-for-apprenticeship-in-the-real-estate-industry/ https://realestatemagazine.ca/a-case-for-apprenticeship-in-the-real-estate-industry/#respond Mon, 02 Dec 2019 05:57:15 +0000 https://realestatemagazine.ca/a-case-for-apprenticeship-in-the-real-estate-industry/ Construction, financing, legal aspects, for Pete’s sake – many industries require real-time training under a mentor. In the real estate industry, however, apprenticeship isn’t a given. Does that sound weird to anyone else?

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Tell me if this sounds strange to you.

In many professional industries, such as financial planning or insurance sales, the consultant does not simply dash off into the fray after training. They become apprentices, practicing in real time with real clients under the mentorship of a seasoned professional.

Yet in real estate, where we walk people through legal contracts and the sale or purchase of what will likely be the largest asset of their lives, this is not always the case.

Construction, financing, legal aspects, for Pete’s sake – many industries require real-time training under a mentor. In the real estate industry, however, apprenticeship isn’t a given. Does that sound weird to anyone else?

In Manitoba, aspiring real estate agents must become trained through our provincially mandated education in order to be licensed. Then they head off to their broker’s office, pick up the phone and start on their path of working for clients.

While annual re-licensing education is required of licensees to keep them up to date on industry happenings, I feel we need to also incorporate mentorship or apprenticeship for new licensees.

The issuance of a license should not be enough to hit the ground running. It is kind of like reading a book about surviving in the woods and then thinking you know how.

There’s knowing information, and then there’s understanding how to apply that knowledge in real time in the midst of a transaction, especially when conflict, confusion, emotional upheaval and legal anomalies surface, all of which are daily fare for the real estate professional.

This is what needs to change.

I’ve had the honour of training soon-to-be real estate professionals for many years. As often happens, a new agent then would contact me with questions or invite me for coffee and we talked shop. As I listened, I heard a lot of familiar questions that plague many a new professional.

In one instance, an agent was troubleshooting a particular situation with a transaction, he was nervous and unsure about how to move forward. The responsibility that rests on an agent’s shoulders is big. He had reason for caution. He had an advantage over most new agents though, in that his broker was eager to mentor him, and he had courage and willingness to reach out to another seasoned professional and ask me for advice.

Most new agents are not so lucky to have that mentorship built into their place of work. And, because it isn’t a thing, leaving the implication that what you learned in class is enough, many don’t pursue advice from the more experienced.

This is the situation many new agents find themselves in, and it can be a catalyst for a blunder of contractual proportions.

We can do better.

We owe our industry professionals more. I feel we owe homeowners and homebuyers more. We owe excellence in knowledge and service, and it starts with thorough training. I strongly feel it starts with bringing mentoring to our industry.

But maybe I’m singing into a pail here.

What do you think? Should the real estate industry introduce an apprenticeship program?

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Making the right connections: The people around you matter https://realestatemagazine.ca/making-the-right-connections-the-people-around-you-matter/ https://realestatemagazine.ca/making-the-right-connections-the-people-around-you-matter/#respond Thu, 09 Jun 2016 04:00:24 +0000 https://realestatemagazine.ca/making-the-right-connections-the-people-around-you-matter/ “Your income will be the average of the five people you spend the most time with.” So, no matter how you try to shield yourself from negative people, it is much safer to spend time with positive people.

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The people around you have a significant impact on how you think and how you act … and who you are. As Earl Nightingale said many years ago, “Your income will be the average of the five people you spend the most time with.” So, no matter how you try to shield yourself from negative people, it is much safer to spend time with positive people.

Picture yourself on a rubber raft at the beach on a beautiful calm sunny day. There’s no wind and you don’t seem to be moving anywhere. Twenty minutes later you look up and you are 100 yards down the beach from where you started out. How did that happen?

It’s the same with those you associate with. They will move you in a plus or minus direction even though you don’t notice it. It’s very subtle but it’s always happening.

Here’s a great strategy to ensure that you move down the beach in the right direction. Take an inspiring person to lunch every two weeks. Interview different people and ask them a series of questions. Things like, “What inspires you? What books are you reading? What would you do differently next time around?”

These interviewees don’t have to be real estate salespeople – speak to anyone in your community you know who is interesting. In following this approach personally, here’s what I learned – inspiring and interesting people love to help others. You won’t have any trouble finding people to take to lunch. Start putting it in your calendar and be sure to have your questions ready.

Spend time with people who will lift you up. Find out how they think, how they live and how they act. Their inspiring mindset will contribute significantly to your mindset and your attitude. Don’t try to do it on your own. No one ever developed a winning mindset in isolation.

Draw from others and ask lots of questions. Find out how they think rather than telling them how you think. Here’s the fun part: follow this plan and some day someone will want to take you to lunch for the very same reason! No excuses.

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Century 21’s Coaching Academy puts coach in sales rep’s corner https://realestatemagazine.ca/century-21s-coaching-academy-puts-coach-in-sales-reps-corner/ https://realestatemagazine.ca/century-21s-coaching-academy-puts-coach-in-sales-reps-corner/#respond Fri, 18 Mar 2016 12:42:33 +0000 https://realestatemagazine.ca/century-21s-coaching-academy-puts-coach-in-sales-reps-corner/ Century 21’s new Coaching Academy program aims to provide a proven system that incorporates expert guidance and effective tasks into their salespeople’s daily routine, the company says.

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Century 21’s new Coaching Academy program aims to provide a proven system that incorporates expert guidance and effective tasks into their salespeople’s daily routine, the company says.

“The coaching academy doesn’t take time away from an agent’s busy schedule. It’s there for them while they work, providing and supporting the specific actions they need to take in order to grow their business every day,” says Martin Charlwood, vice chairman and CEO, Century 21 Canada. “It’s all about accountability and action. Ultimately, we want to do all we can to help every member in our organization succeed and this program has already had a proven impact.”

The program provides a coach-on-call, an online daily activity tracking system, weekly coaching webinars, a daily motivational message and an online training library.

“This program shifts power from local market trends and empowers agents with proven habits and skills for any situation,” says Rob Vivian, a C21 Coaching Academy presenter and sales rep. “Down market, work with buyers in this way. Up market, work with sellers in that way. We show them exactly how to apply real estate’s basics in specific, scheduled tasks so they are continuously productive.”

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Get yourself a mentor https://realestatemagazine.ca/get-yourself-a-mentor/ https://realestatemagazine.ca/get-yourself-a-mentor/#respond Tue, 14 Jul 2015 05:33:43 +0000 https://realestatemagazine.ca/get-yourself-a-mentor/ Schooling is to knowledge what mentoring is to mastery of skills. Succeeding in academia is simply a precursor. To advance further, you need to get yourself a mentor.

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Plop! You’ve graduated and landed, hitting the ground running. Poof! You’re registered and now you’re a real estate professional. Not so fast, my dear rabbit. In this instance, you are better off teaming up with the turtles.

Schooling is to knowledge what mentoring is to mastery of skills. Succeeding in academia is simply a precursor. You are not the next Fred Astaire just because you have aced the gold medal dance level at one of his franchises. You are not Vidal Sassoon incarnate, having graduated from the resplendent beauty school located in the ever-so-chic downtown core. Every school and every curriculum is deficient and will always be so.

What is absent in the curriculum will always be lacking. Actually, there is one exception that I will mention later. Suffice it to say that no course of studies in real estate education, whether provided to you by the “Industry-Ready School of Real Estate” all the way up to a Harvard-type program, will produce the consummate professional registrant. No institute will do.

The most effective way of understanding what you have studied – and yes, some curricula and instructional techniques are better than others – is to imitate highly respected, practising professionals. In other words, to find a mentor. For a graduate to develop their potential and create their own style, observing and emulating role models is critical.

We learned to draw by copying. We learned to play an instrument by mimicking musicians. We improved our athletic prowess by replicating the diet habits and practice routines of champions. We learned to kiss… well, you get my point.

Even innovation and creativity spring from imitation. The best doctors, the best lawyers, the best teachers, the best parents all copied leaders in their field before breaking out as experts and professionals in their own right.

To learn the fundamentals of your craft, acquire a good education from a good school.  To become a master in your craft, work with leaders in the field. Find a mentor. Develop student-sensei relationships.

Mentoring embedded in the education process is the ideal avenue for developing graduates who “hit the ground running” when entering a profession. It can be done. It has been done. To create mentoring, co-op real estate education requires a structural, legalistic overhaul not envisioned in the near future. Pity.

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