How to Make Sure You Are Always Making More Money at SVN

Posted on October 21, 2015 by SVN

The following blog post is intended for Sperry Van Ness Commercial Real Estate Advisors® and Managing Directors. It aims to highlight the multiple internal resources available to those within the Sperry Van Ness System that can be utilized to help grow income.

In the Sperry Van Ness Business of Making More Money

You have two routes to make more money:

You can do more productive work, since more input equals more output.
You can get better at what you do and earn more by doing the same amount of work.

We talk a lot about doing more, and it is an extremely effective way to grow your income. It’s also something that we can all be doing…

…but it isn’t the only way.

Make More Money by Investing in Yourself

Investing in skills improvement pays real dividends. Learning how to negotiate fees more effectively increases your earnings on every deal without much more work. 10% more up front (by getting 5% instead of 4.5%) and another 5% saved on the back-end by holding firm at the closing table is like doing 7 deals a year instead of 6. (By the way… There’s a video to help you do this – go to the Dashboard, click the S4G button, click “Brokerage Best Practices” and look for “Defending Your Fee.”)

Increasing your hit rates on listings from 50 to 60% adds another deal for every five you do. Need help doing that? Find the videos on “Stuck Listing Analysis” and “Is Your Seller Motivated.” You can also review “The Perfect Proposal” in S4G (since good proposals turn into good packages). And you can come to Boot Camp in San Diego where we have a new session on “Marketing with SVN” to show you a more effective way to get your listings sold.

[bctt tweet=”Investing in skills improvement pays real dividends.”]

Not sure about your negotiating skills? Getting to Yes is still a classic – and still very worth reading. It was a seed change in how everyone thought about negotiations and can help you find true win-win solutions through principled negotiation instead of positional negotiation. We have a video on “Negotiating From Your Best Position,” too.

These are a few examples, but there are many ways in which each of us can sharpen our saws and get better at what we do. If you can’t make it to Boot Camp in San Diego in December, or can’t wait to get to the Annual Conference in San Diego in February, might as well get started now!

Interested in learning how you can access exclusive CRE tools and training to take your business to the next level? Contact us today.

Broker Boot Camp | 4 Traits of a CRE Brokerage Superstar

Posted on June 29, 2015 by SVN

Do You Have What It Takes to Be a Brokerage Superstar?

Having attended the Sperry Van Ness® Broker Boot Camp in Chicago three weeks ago, I now know a little bit about what it takes to “make it” in the commercial real estate brokerage business. Full disclosure: I’m a marketing intern, so my experience as a broker is non-existent. However, since I had the opportunity to sit in on the first day of the Boot Camp, led by industry veteran John McDermott, I now have a pretty good idea of some of the qualities that differentiate a brokerage “superstar” from the rest.

To be clear, even being just a “good” broker isn’t as easy as you may think. (See my first Boot Camp blog post for some elaboration). To be a “superstar” in any field you need to set measurable goals, as my second Boot Camp blog post discussed. But for commercial real estate brokerage in particular, you must possess 4 specific traits to become a top performer.

The Intern’s Take on the 4 Traits of a Brokerage Superstar

1. You must be tenacious. As a broker, there are few times when it’s acceptable to simply take “no” for an answer. Brokerage superstars are relentless — when appropriate, they prod further with clients who seem to be shutting them down. Instead of calling it a day, a brokerage superstar asks questions when she is slammed with a “no.” For example, rather than ending the conversation when a potential client says he has no interest in giving you an exclusive listing, ask what his reservations are and listen to his response.

2. You must be a self-starter. As I already mentioned, brokerage isn’t easy. Perhaps the hardest part of commercial real estate brokerage is starting out as a brand-new broker. A budding brokerage superstar will jump on the opportunity as soon as she is hired by a brokerage firm by immediately starting to build her database, accumulate contacts, and practice key skills. This brokerage superstar doesn’t wait to receive help or direction. Instead, she takes initiative by doing everything in her power to succeed from the Day 1.

3. You must be self-motivated. From what I understand, brokerage can be a lonely business at times, because it is ultimately up to you as a broker to close your deals and earn paychecks. While it seems scary (in my opinion) to be relying only on commission for your income, a brokerage superstar sees this as an advantage. A brokerage superstar is fearless and confident in her own abilities to bring home the bacon, and doesn’t need outside motivation to stay fired up.

4. You must be able to make connections with the right people. This doesn’t mean you can just say “oh, I’m a social butterfly!” and spend your week chatting with your friends. A brokerage superstar doesn’t just work the room — she works the room with a purpose. She goes out of her way to introduce herself to industry leaders and research the local movers and shakers. Following any meeting or casual encounter, a brokerage superstar takes notes and catalogues this experience for future reference. As a broker, your business is built on knowing the right people, so you must be professional, likeable, and strategic in order to make worthwhile connections.

If you think you have what it takes to be a brokerage superstar, visit our Careers page by clicking here.

To learn more about the SVN Broker Boot Camp, click here.

Broker Boot Camp | Setting Goals for Success

Posted on June 22, 2015 by SVN

Intern Insights: Setting Goals in Your Personal and Professional Life

If you’ve read my previous blog post, then you know that I learned a lot about the commercial real estate industry by attending the Sperry Van Ness® Broker Boot Camp in Chicago. However, the Broker Boot Camp was not strictly about the brokerage business. In fact, one of the most interesting parts of the training for me was when speaker John McDermott talked to us about setting goals. We’ve all heard it before — setting goals is a good thing. But not many of us actually do it. As author Brian Tracy states in his book Goals!, going through the process of writing out your goals on paper can make all the difference. By writing down your specific aspirations with measurable standards, you have already committed to something tangible.

Don’t know where to start? Not to worry! I’m going to share with you 3 out of my 10 goals that I wrote down during the Broker Boot Camp to give you some ideas.

The Intern’s Top 3 Goals for Success in Life

1. Work out at least 4 times a week. In my opinion (and John McDermott’s), health should always be your number one priority. Whether you’re a high-profile Advisor working on multi-million-dollar deals or a college student like me, finding time to take care of yourself can be difficult. But maintaining good health is crucial, because without your health you can’t perform at your best in all aspects of life. Let’s be real — I probably won’t work out 4 times a week every week. Other things always seem to get in the way, such as my best friend Netflix. But having written this goal down, I now feel accountable for meeting my own expectations. (Now I have to go on a run after publishing this.)

2. Call my dad at least twice a week. Family is also incredibly important — it’s a built-in support system that no one should neglect. But like exercise, family time is often forgotten, as we tend to prioritize working hard and making money over our personal lives. Let me be clear — working hard is awesome. That’s how you get places in life. But at the end of the day, your family is all you have. Using my example, my dad is literally the smartest person I know. I would be missing out on receiving advice, motivation, and support by continuing to work through the evening instead of calling my dad.

3. Graduate magna cum laude in 2017. Since I’m going to be a junior in college, my academics are a huge priority. In the brokerage business, a similar goal could be something like “earn my CCIM designation by 2017” or “make the National Top 10 Advisors list by 2017.” Since school is my “work” at this point in my life, I’m committed to performing at my maximum potential. Hey, I might not graduate magna cum laude. Although it’s not impossible, I know it’s super hard. But now that I have this goal written down in front of me, I have something tangible that I can strive for over the next two years.

I know — my top 3 goals don’t really relate to the commercial real estate business. But that’s sort of the point. No matter where you are professionally, it’s important to keep your personal goals in mind along with your professional ones. If you’re at work, then work. But if you’re off the clock, take time to focus on your health, your family, and whatever else is important to you personally. So grab a pen and paper and write down your top 10 life goals. You never know — all 10 of them might come true.

To find out more about the SVN Broker Boot Camp, click here.