Tech Tips and Common Sense

I have spent the last three days at the National Association of Realtors conference in Orlando, Florida. Although I am no fan of Orlando, which seems to me like a place without a place, the conference was, as it always is, a fascinating experience in a number of ways. The amount of new technology on display is dazzling, and not just for real estate professionals. Online document management and e-signature applications will be altering the way business is transacted in the legal community and the venture capital and hedge fund worlds as well as in real estate deals of every stripe. It makes me realize, yet again, what a backwater our ultra sophisticated home town remains for the real estate professional and his clients. The rest of the country has sprinted ahead of us in listings search and client interaction software, while we in Manhattan have remained in a minimally competitive environment which has stifled competition and innovation. At last this is about to change, as the RLS, our local version of an MLS, will launch before year’s end, opening our city to the enormous grab bag of applications which have been enjoyed by the rest of the country for years.

In addition to the technology, there were some great facts, both general and specific, and a few nuggets of real wisdom imparted by the speakers at the many sessions the Warburg team attended. Here are four of my favorite facts gleaned from the presentations:

nationwide, the average age of realtors is 55. Nationwide, the average age of buyers is 31. Do these age groups speak the same language?

the average mobile user looks at her device over 300 times per day!

in the past year, the frequency with which e-mail was opened on a mobile device increased by 34%,while the frequency of desktop openings decreased by almost 10%

28% of the average worker’s day is spent reading and responding to e-mail. (I would argue that the percentage is probably higher for real estate professionals. But for everyone, the amount of time we spend manipulating our mobile devices when we should be interacting or speaking with others, especially with the person sitting directly across from us at a restaurant table, is appalling. We have all reverted to the 18 month old stage of parallel play!)

And finally, my favorite bit of wisdom, expressed by real estate coach David Knox in his training for real estate managers: remember that people ASK for advice but what they actually WANT is feedback. Too many sales managers, when asked for advice by the agents who report to them, actually give it! This is a poor idea for two reasons: first, advice almost always inspires a defensive reaction (especially in men).  Almost no one actually likes being told what to do. Second, it doesn’t breed self-reliance to TELL someone what to do. Feedback, on the other hand, consists mainly of questions rather than statements. “What do you think a good solution would be?” “How might she react if you suggest that?” I find, when I remember to practice the art of giving feedback, that the person sitting across from me almost always already knows what they should do. My role is to reinforce and refine this response.

Although in theory I know that feedback is the way to go, it always helps to be reminded. Giving advice makes ME feel good, because I feel I have solved the problem. But this ego gratification pales in comparison to the benefit, for both me and my team, of giving feedback. Feedback builds confidence and competence in the people around me. As a spouse, as a parent, as an instructor, and as a business owner, this lesson is my most important take away from the week-end in Orlando.

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