Leadership   in the Current Real Estate Environment
Exhibit Leadership!
“ A leader must be the person people come to in times of crisis. When they get there, they must never see you hungry, cold...
"In times of adversity, leaders can energize people and give them a sense of mission and purpose to defeat the advers...
Creating action from inaction Inspire
Extrinsic versus Intrinsic Motivations extrinsic motivation (power, money, status)  intrinsic motivation (meaning, growth,...
“ There’s nothing wrong with wanting the trappings of success.  But real confidence, and true success, comes from the feel...
A  clear purpose and vision  are the key factors for intrinsic motivations. To be a visionary leader, you must  be   focus...
When Arthur Guinness decided in 1759 to open a brewery, he signed a lease for a four-acre site in downtown Dublin. The ter...
 
Results in 90 days: $127,000,000+  worth of price breaks 165  of those homes sold
Sarasota, Florida
 
 
Buyers #1 – Contact anyone who might have given up. #2 – Contact anyone in the higher income levels that will now be eligi...
#1  – Contact old CMAs and let them know –  THE TIME HAS COME!  #2 –  Contact every EXPIRED listing for the last eighteen ...
“ Ironically, by trying not to get anyone mad, and by treating everyone equally ‘nicely’ regardless of their contributions...
Recruit and Retain
Rescue Them
Creating clarity from confusion Inform !
Does your agents’ knowledge inspire confidence and certainty?
“ The first responsibility of the leader is to define reality.” - Max Depree in his book, ‘Leadership is an Art’
Do they know  what  is happening?  Do they know  why  it is happening?  Do they know  how  to communicate it? Three Questi...
Reports are still looking good!! New construction Existing home sales Pending home sales UP! UP! UP!
Sources: NAR 9/09 Existing Home Sales  $0 -100,000 $100,000 -250,000 $250,000 – 500,000 $500,000 – 750,000 $750,000 – 1,00...
Creating confidence from fear Instruct
Are interest rates  going up or down?
Mortgage Rates  –   30 year fixed Source: Federal Reserve 6/25/2009 11/05/2009
Mortgage Rates  –   30 year fixed Source: Federal Reserve 2003 2008
 
“ As the Fed begins to wind down its purchases in the next few months, rates will become less enticing.  Analysts expect t...
How big a role will foreclosures play?
 
Sources: Seeking Alpha 8/24/2009
for prime loans dropped  to 6.6% from an average  of 45% for the years 2000 through 2006.   Sources: Wall Street Journal 8...
Shouldn’t I just wait if a want to sell my home?
Source: CME Group 11/09 May 2011 Jul 2012 Projected  Bottom Today’s Price
Source: Seeking Alpha 9/18/09 When will prices rebound to recent peak?
Creating action from inaction Inspire
Manage 2010 in 90 day increments Plan in 5, 3 and 1 year stretches
 
Great 90 day plans for February/March: <ul><li>Price adjustments </li></ul><ul><li>Inventory Acquisition </li></ul><ul><li...
If you want to build a boat, do not instruct your team to saw wood, stitch the sales, prepare the tools and organize the w...
Instead, make them long for setting sail  and traveling to  distant lands.” -  Antoine De Saint-Exupery
it’s who is going  to stop me. -  Ayn Rand The question isn’t who is going to let me;
www. steveharney blog .com
631-787-6200 [email_address] www.steveharney.com www.steveharney BLOG .com
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Steve Harney NAR Presentation 2009

  1. 1. Leadership in the Current Real Estate Environment
  2. 2. Exhibit Leadership!
  3. 3. “ A leader must be the person people come to in times of crisis. When they get there, they must never see you hungry, cold, afraid or tired.” Colin Powell
  4. 4. &quot;In times of adversity, leaders can energize people and give them a sense of mission and purpose to defeat the adversity they are facing. They create an esprit de corps that keeps people going, to get through tough times.&quot; <ul><li>Professor Harbir Singh, </li></ul><ul><li>academic co-director of Wharton's </li></ul><ul><li>Strategic Thinking and Management </li></ul><ul><li>for Competitive Advantage program. </li></ul>
  5. 5. Creating action from inaction Inspire
  6. 6. Extrinsic versus Intrinsic Motivations extrinsic motivation (power, money, status) intrinsic motivation (meaning, growth, learning)
  7. 7. “ There’s nothing wrong with wanting the trappings of success. But real confidence, and true success, comes from the feeling that you are doing things for the right reasons.” Authentic Leadership Institute
  8. 8. A clear purpose and vision are the key factors for intrinsic motivations. To be a visionary leader, you must be focused on the future and able to communicate a powerful message . Understanding People’s Intrinsic Motivations
  9. 9. When Arthur Guinness decided in 1759 to open a brewery, he signed a lease for a four-acre site in downtown Dublin. The terms? Forty-five pounds a year for nine thousand years.
  10. 11. Results in 90 days: $127,000,000+ worth of price breaks 165 of those homes sold
  11. 12. Sarasota, Florida
  12. 15. Buyers #1 – Contact anyone who might have given up. #2 – Contact anyone in the higher income levels that will now be eligible. #3 – Contact every move-up buyer.
  13. 16. #1 – Contact old CMAs and let them know – THE TIME HAS COME! #2 – Contact every EXPIRED listing for the last eighteen months. #3 – Sit with your existing sellers. If their house doesn’t sell now, then when? Sellers
  14. 17. “ Ironically, by trying not to get anyone mad, and by treating everyone equally ‘nicely’ regardless of their contributions, you'll simply ensure that the only people you'll wind up angering are the most creative and productive people in the organization.” - Colin Powell
  15. 18. Recruit and Retain
  16. 19. Rescue Them
  17. 20. Creating clarity from confusion Inform !
  18. 21. Does your agents’ knowledge inspire confidence and certainty?
  19. 22. “ The first responsibility of the leader is to define reality.” - Max Depree in his book, ‘Leadership is an Art’
  20. 23. Do they know what is happening? Do they know why it is happening? Do they know how to communicate it? Three Questions
  21. 24. Reports are still looking good!! New construction Existing home sales Pending home sales UP! UP! UP!
  22. 25. Sources: NAR 9/09 Existing Home Sales $0 -100,000 $100,000 -250,000 $250,000 – 500,000 $500,000 – 750,000 $750,000 – 1,000,000 $1,000,000 – 2,000,000 $2,000,000 + Year over Year +20.9% +4.9% -9.6% -14.7% -22.5% -22.1% -39.1%
  23. 26. Creating confidence from fear Instruct
  24. 27. Are interest rates going up or down?
  25. 28. Mortgage Rates – 30 year fixed Source: Federal Reserve 6/25/2009 11/05/2009
  26. 29. Mortgage Rates – 30 year fixed Source: Federal Reserve 2003 2008
  27. 31. “ As the Fed begins to wind down its purchases in the next few months, rates will become less enticing. Analysts expect them to rise to at least 6 percent from the current 5 percent.” Source: NY Times 10/24/09 New York Times
  28. 32. How big a role will foreclosures play?
  29. 34. Sources: Seeking Alpha 8/24/2009
  30. 35. for prime loans dropped to 6.6% from an average of 45% for the years 2000 through 2006. Sources: Wall Street Journal 8/24/2009 ‘ Cure Rate’
  31. 36. Shouldn’t I just wait if a want to sell my home?
  32. 37. Source: CME Group 11/09 May 2011 Jul 2012 Projected Bottom Today’s Price
  33. 38. Source: Seeking Alpha 9/18/09 When will prices rebound to recent peak?
  34. 39. Creating action from inaction Inspire
  35. 40. Manage 2010 in 90 day increments Plan in 5, 3 and 1 year stretches
  36. 42. Great 90 day plans for February/March: <ul><li>Price adjustments </li></ul><ul><li>Inventory Acquisition </li></ul><ul><li>Short Sales and REOs </li></ul><ul><li>Social networking </li></ul>November December January March February
  37. 43. If you want to build a boat, do not instruct your team to saw wood, stitch the sales, prepare the tools and organize the work…
  38. 44. Instead, make them long for setting sail and traveling to distant lands.” - Antoine De Saint-Exupery
  39. 45. it’s who is going to stop me. - Ayn Rand The question isn’t who is going to let me;
  40. 46. www. steveharney blog .com
  41. 47. 631-787-6200 [email_address] www.steveharney.com www.steveharney BLOG .com

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