Where We Are Now: April 20, 2020

20 April, 2020 | Compass California Real Estate Blog

Work From Home — Day 36

Digital Assets, Noise & $1 Bet

5:00AM PST

Team –

I had a couple dozen emails this weekend from teammates looking for a few high-impact digital assets from last week. Here are links to:

Over the weekend, Baron’s published an article that at the core questioned Compass’ success and largely compared Compass to Realogy, which owns several real estate brokerage brands.

When I finished reading the article, I said to myself, “What was the purpose of the article?” It was not to educate home buyers and sellers. Could it have been to educate investors?

To me, it was “noise.” We manage through noise every day in our business. If the comparisons in the article are correct, here are my observations:

  • Compass agents are three times more productive than Realogy agents.
  • Compass year-over-year growth has been 2x EVERY YEAR for seven years.

Managing through the noise, Compass is about momentum and productivity.

Back to the Path Forward:

I’ll bet you each $1 we are closer to the relaxation of SIP than we are to the start of SIP. What’s your plan? What are your goals? Personal and business. A few ideas:

  • I am coming back from SIP in better health or in better shape than I went into SIP.
  • I established a family or personal routine in SIP that I love and I am committed to maintaining it vs. work running my life.
  • I will only work with clients who respect my time and advice.
  • I will be thrilled to put on work shoes vs. flip-flops.
  • I have updated my CRM to the point where it will be telling me who to call every day.
  • I will maintain my 10 calls a day to clients, simply checking in.
  •  I will stop howling at 8PM nightly.

Remember, hope is not a strategy! Strategy needs clear, quantitative goals and a focus on execution. Start focusing on coming out strong about the new habits you love and then ones you don’t.

The most productive part of my morning is the planning and the action-list I develop the night before. This action list ensures I hit the ground running on the urgent and important every day. Make a post-SIP plan, take action and save me a crisp one-dollar bill!

This is Where We Are Now.

Thanks!

Mark

Mark A McLaughlin

Work From Home — Day 36 — Closing Bell

Pendings, Closings, and Cancellations

5:55PM PST

Team –

Last Thursday on the John Burns Real Estate Consulting weekly COVID webinar, our market research was used to enlighten John’s audience on trends in coastal California real estate.

Here is how John presented our findings – you may want to use these with your clients.

Effective today, closings for April are up to 591 from 584 in Thursday evening’s reporting. Encouraging, as we also experienced an upward spike of open orders at Chartwell Escrow. April seems to be stable. These are the facts as we see them today.

May’s closing will be rough, but as I said in this morning’s writing, I expect a relaxing in SIP sooner rather than later.

Tomorrow morning’s writing will be from Patrick Barber in his own words and with his own passion. I forgot to congratulate Patrick on our 10-year anniversary together in late March. Somehow, I was distracted.

Please know Patrick changed the landscape in San Francisco real estate in March 2010 when he joined our team. Likely a story you will hear from me soon!

This is Where We Are Now.

Thanks!

Mark

Mark A McLaughlin

 

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