Appealing to Younger Agents

Monday, March 21, 2011

A recent Real Trends article hammered home what many of us have suspected for quite some time…that the real estate agent population is aging. In their article "Younger Sales Professionals Leaving the Industry in Droves" they go a step further, telling us that, not only are they difficult to attract, but that these younger agents are also difficult to retain:

"When viewed only by median age, the change has not seemed severe: The median age went from 52 (in 2004) to 51 (in 2006) to 54 (in 2009). This is noticeable, but most haven’t seemed to react too much over it (though it’s hard not to note that in the recent three-year period the median age increased by three years, which essentially says that the whole group just stayed the same and aged together – this alone is revealing).

Based on our calculations, the number of sales professionals under the age of 35 has dropped from 149,000 to 101,000 (down 32%). Over the same period, the number of sales professionals 35 to 44 has dropped from 272,000 to 156,000 (43% down); those 45 to 54 have dropped from 407,000 to 301,000 (26% down). At the same time, the 55-and-over group has virtually held steady (going from 557,000 to 545,000). In other words, we lost 164,000 Gen X’ers and Millennials in a three-year period (nearly 40% of what they were)." (Real Trends Volume March 2011, XXV, Number 3)

Their explanation of this trend is fairly straight forward and I believe it is right on target. They say:

"If we focus on the 35 to 44 group, which represented 20% of the total agent population in both 2004 and 2006 but only 14% today, we know that this generation had never experienced a down market before this one (after all, they were all in their thirties five years ago, and age 25 to 34 a decade ago). It would seem that this group hit the wall and struggled to make ends meet just as they were moving to an age when one normally settles down and focuses on a long-term career. They were brought into the business at a time when the industry was largely focused, from NAR right down through the individual brokerages, on expanding rosters to higher profits by recruiting, recruiting, and recruiting. With some exceptions, similar energies were generally not put into training during this time. Bad habits were formed, “easy money” was made by many thanks to a booming market, and too little was done to prepare for a shifting weather pattern. When the downturn in the housing market went from bad to historic, it’s no wonder that many in this generation were not prepared to handle the jolt."

Real Trends' solution to the problems, however, seems a bit short-sided to me. They recommend bringing younger candidates into today's rental market. Not a entirely bad idea, but, I see the problem of attracting and retaining young talent to be much more complex than that very simple solution.

Before publishing some of my own thoughts about this trend, I would greatly appreciate hearing from some of our readers. So, in the next day or so, please let me know what you think. In the meantime, I'll write my thoughts out…and I'll be ready to add yours in the next edition.

You can send them by email or respond to this blog. Thanks!

Editor's Note: This article was written by Dr. David Mashburn. Dave is a Clinical and Consulting Psychologist, a Partner at Tidemark, Inc. and a regular contributor to WorkPuzzle. Comments or questions are welcome. If you're an email subscriber, reply to this WorkPuzzle email. If you read the blog directly from the web, you can click the "comments" link below.

Social Networking and Recruiting: 7 Guidelines for What to Share on Facebook

Wednesday, March 16, 2011

Yesterday, I pointed out that sharing too much in your social networks (quantity) is annoying to those who interact with you online. It is a good way to get relegated to the spam box or simply turned off. It is better to thoughtfully select the things you share (quality), and post less often.

The risk of taking this approach is that you may come across as shallow or having an agenda that is self-serving. Having a clear focus can produce its own set of casualties. This is the classic problem with politics, advertising, marketing, branding, social media and recruiting. Is there a middle ground that is just right? I think so, and that place is called authenticity.

To help us understand authenticity, I'd like to share part of an article written by Heather Bussing. Heather is an employment and business attorney who recently wrote Does Authenticity Make My Butt Look Big? In the article, she lays out some very helpful guidelines regarding what is appropriate to share professionally in social networks:

"I’ve been listening to sessions on employment branding at the Tru London conference. The overall consensus is that companies should be more 'authentic' But what does that really mean? And how do you do it? Asking yourself if you are being authentic enough is like asking if your what you're wearing makes your butt look big. The questions are equally narcissistic and no one is going to tell you the truth. (By the way, transparency always makes your butt look big.)

To work on being more 'authentic' is to preclude the very possibility of authenticity.  Authenticity is not a destination. It’s part of the sweat you work up taking a good hard run at life. There is no way to 'be' authentic. Authenticity is inherent in just being. This is because being authentic is just being yourself. If you are comfortable in your own skin, you will be authentic without trying.

For some, being authentic means revealing personal information. For others, it means demonstrating their quirks and foibles to seem more human. Still others want to be clearer in their communications and say exactly what they mean. These things don’t always work, nor do they demonstrate authenticity. The whole point of authenticity is credibility. When we say someone is authentic it means that they are not fake, they are true and you can believe them. As Jean Giraudeaux once said:

'The secret of success is sincerity. Once you can fake that you’ve got it made.'

But,the reverse is also true:

'A little sincerity is a dangerous thing, and a great deal of it is absolutely fatal'            – Oscar Wilde.

So the key is to be yourself but stay focused on your purpose, audience and topic. Here are some practical tips I’ve learned as a trial lawyer on where to draw the line with your genuine, sincere, authenticity:

Avoid TMI: Too Much Information is not the same as being authentic. People don’t want to know about your medical conditions, particularly anything involving a rash or oozing. They also don’t want to know about the toilet training of your children, how you cured smelly feet or other such personal information.

Avoid Public Heartfelt Disclosures: It absolutely works in private and is essential to close relationships. Most people are really uncomfortable with that level of disclosure with people they don’t know. So avoid public discussion in business or professional settings of the epiphanies you had in therapy, church, a personal discussion with your spouse, or any combination thereof.

Self deprecation only works if it’s funny. Irony doesn’t come through in writing unless you are a really talented writer with room for context. Even adding an emoticon just doesn’t cut it. If you say, 'I’m such an idiot,' people will just think you’re an idiot. On the other hand, you can push the line a lot farther if it’s funny.

Be your 'professional' self. Put things out there you would share with a new boss or colleague. If it’s someone who would get less than 70% on your Facebook How well do you know me quiz, it’s probably TMI.

Do not post anything online out of anger, fear, after more than one drink, or after 10 pm, whichever comes first.

Righteous indignation, no matter how passionate and heartfelt, always comes off closer to raving lunatic.

If you are uncomfortable, you’ll never pull it off. Don’t even try to overcome it. So just be uncomfortable and move on. It will pass as soon as you let it.

The real key to communicating authentically is understanding what you are saying really well, then saying it as clearly and simply as possible. This takes a lot more work and a lot more time than knocking off a few lines at the keyboard or flying by the seat of your pants. It often requires editing, polishing, feedback and rethinking—all things that are often absent in online publishing."

Bottom line: Authenticity is both knowing what you are talking about and saying it really well. The power of social networks–as a viable recruiting and business tool–will not be realized until we learn this lesson.

Editor's Note: This article was written by Ben Hess. Ben is the Founding Partner and Managing Director of Tidemark, Inc. and a regular contributor to WorkPuzzle. Comments or questions are welcome. If you're an email subscriber, reply to this WorkPuzzle email. If you read the blog directly from the web, you can click the "comments" link below.

Social Networking and Recruiting: Stop the Social Vomiting

Monday, March 14, 2011

Dave and I had the opportunity to attend two national real estate conferences last week in San Diego and Las Vegas. While we attempt to stay connected with our clients year-round, there is nothing that replaces making the personal, face-to-face connections that happen at these types of venues.

I'm always amazed at how much we learn by talking with those who run businesses on a day-to-day basis. The school of real life is a relentless taskmaster, but a faithful teacher of truth. Gleaning these truths from our interactions and passing them on to those who read WorkPuzzle is one of the things I enjoy most about my job.

One area that remains to be of keen interest among many owners and first level managers is the topic of social networking as it applies to recruiting. It would seem that this arena has so much potential, but the benefits have been very difficult to capture, measure, and scale. We're really in the infancy of how social networking can be used to benefit the recruiting process.

Of course, the only way to learn is to experiment. And many of these "experiments" have produced disasterous results. In fact, there is a trend emerging where candidates are pushing back on clumsy attempts to use social networking for recruiting. I've read several articles in the last week or so on what NOT to do when trying to promote your employment brand and recruit in the social networking arena.

One of the best articles was written by Kathy Rapp, the Managing Director of hrQ. Kathy recently took three months of maternity leave and was able to use that time to be a third party observer of the social networking state of affairs. Here is what she noticed:

"I can't tell you how many people I've now hidden or turned-off because of the immense amount of social vomiting they do on a daily basis. You know what I'm talking about. There were those who continuously self-promote; those who posted every semi-humorous you-tube video of commercials, bands or cats; or those who simply retweeted everything they could without a single comment as to why I should take time to click on the link.

On the flip side were people who were extremely thoughtful in their posts, blogs or commentary. Those who produced informative reads or insights that made me want to learn more. I really, really came to appreciate the QUALITY of the communication.

When you are trying to establish your personal brand, company presence, networking reach, or just responding to a post, remember quality over quantity. While I may know your name because of the number of tweets you are tied to, if I associate your name with 'annoying' I doubt it is the message you want to deliver.

An example of a company that gets the quality concept: HomeAway. Two years ago they jumped off a big cliff and produced a Super Bowl ad with the much talked about return of Clark and the Griswold family. This year, it was the introduction of the Ministry of Detourism.

They've tiptoed into other social media realms, and as such whenever I see the clever blue birdhouse, I tend to read what has been posted. Excellent example of company branding that emphasizes quality communication over quantity, which also happens to be one of the concepts they are selling to their customers."

Take an inventory of what you're sharing on your social networks. Are you guilty of a little "social vomiting" of your own? I hope not, but it sometimes is difficult to tell what's inappropriate to share. It's a little like trying to figure out if you have bad breath–you may not be able to tell, and others are uncomfortable letting you know. Next time, I'll cover some guidelines on what is appropriate to share and how you can turn your social network into a professional asset.

An Assignment to Daydream

Wednesday, March 09, 2011

Over the past two weeks, I have come to an interesting conclusion…and here it is: Daydreaming works.

I stumbled onto this phenomenon somewhat randomly. You see, I tend to be one of those people who is typically DOING something…all of the time. And if I'm not doing something, I'm listening to something, or reading something, or emailing someone, or, oh yeah…skiing. Does this sound familiar? Many of us who tend to be driven, and entrepreneurial by nature, are like this.

Two weeks ago, I decided to turn off my radio indefinitely while driving in the car. However, my initial purpose for this radio boycott project wasn't to daydream, rather it was to be more mindful about strengthening my prayer life. I figured that the time that I wasted in the car could be spent in prayer instead of mindless Classic Rock.

But, as we all know, the mind has the propensity to drift. For the first few days of the exercise, I attempted to fight this off and stick to the plan. However, on the third or fourth day, I decided to let my mind wander and see what happened. The result? I ended up developing and further perfecting some interesting ideas for our business at Tidemark. While these ideas may not be earth-shattering, they have certainly helped to make my work this week more purposeful and productive. Having had this experience, I decided to do some investigating on the subject of daydreaming, and turned up a great deal of research on the topic.

Amy Fries writes (Psychology Today):

"Admit it. When do you get your best ideas? When you're sitting at your desk striving for an answer, or when you're doing something off-task like driving, walking, or puttering around the house?

On the surface, daydreaming seems like the antithesis of 'work,' yet it's truly at the core of our most important type of productivity–creative problem-solving. That's why some of the most innovative companies in the world feature programs that give key employees the time and space to think creatively, i.e. daydream–Google offers a 20% program, 3M has a 15% program, and Gore & Associates (Gore-Tex, etc.) features 'dabble time.' All three companies credit these programs as the source of their most successful products.

While many of us can see the relationship between daydreaming and creativity in the arts and even science, we've been slower to come around to its usefulness in business. Say the word 'visionary' however, and we understand how having a vision–a mental image or plan–can help someone start a breakthrough company or service.

Yes, I know. All the work and focus must follow to have an idea come to fruition. But the original idea and the motivation to fulfill that idea are birthed in a daydreaming state, and we do our most creative problem-solving when the mind wanders. While daydreaming, we can:

Envision – Model and simulate in our mind's eye

Think uncensored thoughts – Necessary for originality

Free associate – Make random connections and come up with novel solutions

Tap into the most complex regions of the brain "

Amy goes on to say that encouraging your team to be creative and daydream starts with the way you talk to your team:

"Ask 'what if' questions and encourage speculative thinking.

Accept risk and a certain amount of failure. I believe it was Edison who said 'to have one good idea, have a lot of them.'

Provide a forum for idea sharing and give feedback.

Get rid of your old-school ideas about daydreaming, and start doing it. Go ahead–I'm giving you permission. Among the many benefits of daydreaming-it's fun, and we can all use some of that."

I'll go out on a limb and say that it will be the teams who exercise the most creativity in all of their key strategies, who will begin or continue to dominate their market…not to mention, be more fun to work for.

And in case your concerned…yes, I am still praying too.

The Case Against Passion

Monday, March 07, 2011

There are two frequently used words that tend to make my blood boil: (1) issues, as in, "She is dealing with some issues;" and (2) passion, as in, "Pursue your passion." Now, it's not that I never say these words, but, because they are overused, they have almost lost their meaning. This is especially true when it comes to the way the concept of "passion" is used to find one's calling in life.

A great deal of the obsession around the concept of passion has to do with America's obsession with being happy. If you haven't figured it out by reading my articles by now, I'll tell you that the science is fairly clear: The happiest people are not the ones who are actively pursuing happiness. They receive it as a bi-product of doing the right things every day to build a life of meaning and purpose, contributing towards something much greater than themselves.

Why is this topic important to a recruiter? Read the following words from Daniel Pink's recent article "Think Tank: Ever Felt Like Your Job Isn't What You Were Born To Do? You're Not Alone, And You'll See Why."

"When we find ourselves in the midst of a career change or feel a dull sense that what we're doing now isn't what we should be doing forever, our friends and families – along with every mentor, advisor, and consultant – will smile knowingly, lean in tenderly, and pose this question: Tell me, what's your passion? The idea is that if we simply acknowledge what fires our soul, if we just pull out our metaphysical arthroscope and examine our hearts, the path will reveal itself. With a voice that quavers in expectation and an inflection that italicises the final word – they ask us again, 'What's your passion?'

Ladies and gentlemen, I detest that question.

When someone poses it to me, my innards tighten. My vocabulary becomes a palette of aahs and ums. My chest wells with the urge to flee.

Oh my. The answer better be amazing – not some fumbling, feeble reply. But I know the responses I've formed in my head aren't especially good. Worse, they're probably not even accurate. And I'm not alone.

So, as the economy comes back, and people begin pondering new opportunities, maybe we can take a break from this daunting and distracting question and ask a far more productive, one: What do you do?

I learned the wisdom of this alternative from Gretchen Rubin, who lives and works in New York City. After graduating from law school in the early 1990s, Rubin served as a law clerk for the US Supreme Court. This job is perhaps the sweetest plum in the American legal orchard. It practically guarantees a career of high-level positions in law firms and government.

But during her stint, Rubin's eyes wandered away from the law.

'When I had free time, I never wanted to talk about cases or read law journals, the way my fellow clerks did. Instead, I spent hours reading, taking notes and writing my observations about the worldly passions – power, money, fame and sex,' Rubin says.

'Finally, I realized — Hey, I'm writing a book. And it dawned on me that some people write books for a living. This project didn't have to be my hobby; it could be my job.'

She wrote her first book – Power Money Fame Sex: A User's Guide – and soon she realized that she wasn't a lawyer. She was a writer. Now she has four books to her name, including her latest, The Happiness Project.

Rubin might have felt an occasional bolt of passion while writing. But that didn't offer much guidance. Instead, she took a step back and watched what she did.

Emma Jones is the founder of Enterprise Nation, a London company that supports small businesses. She has discovered that people who notice what they do when nobody is watching them, or even paying them, often end up as entrepreneurs.

As it happens, I can testify to the power of de-emphasizing passion and re-emphasizing doing. Beginning about two decades ago, I worked in some very demanding, intensely stressful jobs in American politics and government. But throughout – on the side, usually for no money – I wrote magazine articles about business and work, and formulated ideas for books. At one level, it was foolish. I lost sleep, sacrificed leisure, and probably distracted myself from my paid employment.

But after many years, it finally hit me: This – not politics – is what I did. And now, as a result, that's what I do.

Am I passionate about it? Sure, I guess. Maybe. Some days. But passion isn't something I much ponder. I'm too busy doing what I do."

Having pondered the above, do you have any ideas how your interviews might change in the future? Certainly don't throw candidates out of your office for using the word "passion." But, do drill down more thoroughly on how the candidates spend their free time. They may not even think to tell you much of the really interesting stuff…stuff like: "I basically like talking to my friends 24/7 and have about 1,000 phone numbers of people I stay in contact with…" or … "I spend a great deal of time on the computer, following stories, stats, information…"

In either case, you can use that information to better coach those candidates on how to turn what they do into a more personally derived business plan that resonates with what they already do, naturally.

Curiosity: Three Ways to Refresh Your Outlook as a Leader

Wednesday, March 02, 2011

While reviewing a recent blog entry by Daniel Pink, I stumbled across the work of Dr. Todd Kashdan, a professor at George Mason University. Dr. Kashdan is the Director of the Laboratory for the Study of Social Anxiety, Character Strengths, and Related Phenomena.

I know that’s kind of a mouthful (how would you like to introduce yourself at a party with this as your job title?), so here is some more detail on what his group actually does:

"The Laboratory for the Study of Social Anxiety, Character Strengths, and Related Phenomena is committed to conducting basic research to better understand the nature of social anxiety and positive psychological processes (e.g., curiosity, gratitude, mindfulness, savoring, purposeful living) and applying this knowledge to better people's lives…. We are focused on discovering, applying, and sharing psychological knowledge to better understand components of human functioning, improve the treatment of psychological problems, enhance well-being and character strengths, and promote this work at the individual and societal level."

Isn’t this a great purpose statement for Dr. Kashdan’s work? He seems to be working (from a research perspective) on the issues that many of us would consider critical for developing thriving relationships and experiencing a consistent sense of well-being.

I look forward to exploring more of his published work, but I thought I’d give you a little taste of what I’ve already discovered. One of the topics he tends to focus on is the “positive psychological process” of curiosity. Here is a summary of Daniel Pink's recent interview with Dr. Kashdan regarding the topic of curiosity:

1. Thrive on uncertainty. We rarely look forward to the tension that accompanies uncertainty, but research shows that these feelings lead to the most intense and longest-lasting positive experiences. New and uncertain activities make people happier and create more meaning than familiar routines. Re-train your brain to benefit from the pleasures of surprise and uncertainty. And do the same for people around you. For instance, every week, give a free lunch away to someone who best embodies a strength valued by the business (Compassion? Leadership? Gratitude? Humor?). Let the person who wins pick a lunchmate whom they don’t know as well as they should. Use the pleasures of uncertainty to build satisfaction and commitment inside your organization.

2. Find the unfamiliar in the familiar. As soon as we think we’re experts, we stop paying attention and start falling back on scripts, labels, and categories. That’s especially true in the workplace. Yet scientists have discovered the value of attending to what we don’t know about people and how they differ from us — instead of relying on what we already know and how they are similar to us. Encourage your team to make this mindset switch. You’ll develop stronger bonds, squelch prejudice, and help your star players avoid being blinded by their expertise. For instance, when you go out to lunch with colleagues, ask them about something that interests you but that you never talk about. What are their top 5 places to travel to in the world, and why? What movies do they like but are often embarrassed to share? And don’t always spend your time with people you know. Seek out strangers at work who intrigue you, who are different from you, and who expand your horizons.

3. Be a safe haven for the risks and joys of others. To take risks and experiment with new ways of thinking and acting, we need to feel secure. If you want workers to be creative, be responsive when they share past explorations or future plans. If they feel uncomfortable, let them know that anxiety is natural when trying new things. Share a story about the last time you felt anxiety and self-doubt. You might be surprised how comfortable it will make them to take on tough challenges. And respond genuinely when they share what is intriguing and going right in their lives. Don’t just ask, “How was your weekend?” Ask them what their peak moments were on Saturday and Sunday. And when they share, follow-up with questions, ask for details. You might become genuinely interested in their interests and create a safe haven for the sorts of breakthrough thinking that changes companies — and sometimes the world.

If you’d like to learn more about this topic (or, maybe now you’re just curious…), you may want to pick up Dr. Kashdan’s book: Curious?: Discover the Missing Ingredient to a Fulfilling Life.