Standing your ground. It’s a phrase we often hear, but in the world of real estate — and business in general — its importance cannot be overstated. The ability to hold firm on your values, worth and business practices is not just a strategy; it’s a necessity. As the CEO of a multi-state real estate brokerage, I have witnessed firsthand the importance of this principle.
Let me take you on a journey through why standing your ground is pivotal, illustrated through lessons from my career.
The early lessons of commitment
As a leader, I constantly witness the commitment of our agents being tested. Picture this: Agents just starting out in their careers, running all over town to show properties, often for fees that barely cover their costs. It is exhausting, frustrating and at times, feels utterly thankless. They quickly realize that this path isn’t sustainable. This is where the first critical lesson comes into play: understanding and asserting their value.
Standing your ground is not merely a business strategy; it’s a way of life. It’s about understanding your value, having the confidence to assert it and the clarity to navigate challenges. Whether you’re in real estate or any other field, remember: your worth is non-negotiable. Stand firm, stay committed and let your professional journey be defined by integrity and excellence.
Buyer brokerage agreements: a lesson in value
One of the many hurdles agents will face is the buyer brokerage agreement. Legally, we can’t show a house without one, yet some clients may resist signing, or they want to negotiate fees to a point where it’s not viable for our agents or allow them to earn a living.
This scenario is a stark reminder that if we undervalue our services, we do a disservice to ourselves and our industry. Think about it: Would you spend months showing properties for a flat fee that barely covers your expenses, with no guarantee of a deal? A better question may be, would you hire the least expensive heart surgeon to operate on you and expect the same result as someone with more knowledge and experience? It’s crucial to remember that your time and expertise are worth far more.
Business beyond real estate
This principle extends beyond real estate into any business. Imagine a chef at a high-end steakhouse being offered $5 for their best steak. Ridiculous, right? Yet, this happens in business every day. Companies and professionals alike must recognize their worth and not settle for less than they deserve. This is why standing your ground is more critical now than ever. It’s about confidence, clarity and a deep understanding of the value we bring to the table.
What many fail to understand is that you are a business owner, an independent contractor that operates as an entrepreneur. You have expenses, schedules and need to earn an income to keep your business running.
Clarity breeds confidence
The lack of clarity is the enemy of standing your ground. When professionals, regardless of their field, lack a clear understanding of their value, they operate out of desperation. Poor decisions are made from fear and they take on clients and projects that don’t respect their worth, ultimately costing more in time and resources than they gain. Clarity on who you are, what you offer and who your ideal clients are is the foundation of standing your ground.
Training and support: the power of preparation
At our company, we are fortunate to stand on the shoulders of giants. We’re not a small, boutique company operating in isolation. We are part of a massive network that continually shares information. I talk to other CEO’s inside of HomeServices daily and often times multiple times per day. Support is frequently underrated, as many in our industry chase what appears to be more lucrative, when in fact, they receive nearly nothing in return. As a full-service brokerage, we are backed by the immense strength and reputation of one of the most admired brands in the world.
Our extensive training programs are designed to empower agents with the knowledge and skills to assert their value confidently. With access to general counsel, real estate commissioners, coaches, marketing experts and an array of training resources, we are equipped to navigate the complexities of the industry. However, as with any tool, its effectiveness depends on the user. Being coachable, open to learning and committed to standing your ground are essential.
The personal touch
In all my years in business, one thing remains clear: Personal commitment leads to professional growth. Just like my early days, going the extra mile for clients sets you apart. It’s not just about the transactions; it’s about the relationships we build, the trust we earn and the dreams we help fulfill. This personal touch is what makes our service exceptional and our stance firm.
The legacy of standing your ground
What legacy do you want to leave in your career? For me, it’s about making a lasting impact, improving the lives of those we serve and elevating the standards of our industry. By standing our ground, we not only ensure fair compensation for our work but also set a precedent for excellence and integrity. In real estate, as in any business, it’s not just about the deals — it’s about the people, the relationships and the commitment to doing things right.
Troy Reierson is CEO of Americana Holdings, a wholly owned subsidiary of HomeServices of America, Inc., which operates as Berkshire Hathaway HomeServices Nevada Properties, Berkshire Hathaway HomeServices Arizona Properties and Berkshire Hathaway HomeServices California Properties.
