Imagine a world in which the CEO prioritizes people over profits.
How could this be?
After all, CEO’s of Corporations are responsible for financial RESULTS. Why would any Board of directors allow the CEO to go rogue by valuing people over profits?
This behavior is risky, irresponsible, and even sloppy.
It’s also a WINNER!
Consider this TED Talk of Chobani Yogurt Founder and CEO.
“It’s time to admit that the playbook that’s guided businesses and CEOs in the last 40 years is broken,” Hamdi Ulukaya
The playbook that’s guided businesses and CEOs in the last 40 years is no longer relevant . . .
This also applies to many other business “norms”.
The Real Estate Sales Industry is in transition with respect to compensation models. The current model has been the way it is for as long as REALTORS have been listing and selling houses. The Home Owner decides to sell a house and calls a REALTOR who drafts a “Listing Agreement” which establishes agency and compensation. This Contract between Seller and Listing Broker has traditionally included an agreement to share a portion of the commission with any other “cooperating Selling Broker” who brings a willing and able Buyer. In the event there is not a cooperating selling Broker, the Listing Broker earns the full commission. The Brokers then retain a “split” and pay the remainder to their respective “Independent Contractor Affiliate Brokers”.
While the numbers may have changed through the years and cannot (For Anti-Trust reasons) be “fixed”, the process has been what it is now . . . always.
This has been the “playbook” that’s guided Real Estate Brokers for (at least) the last 40 years.
This playbook is no longer relevant, and the industry knows it. New business models are emerging, and many Real Estate Sales Professionals are scared and angry that things are changing.
Every new concept is heresy.
Every new concept is stupid.
We must fight these dastardly rabble rousers who are rocking the boat, upsetting the applecart and not playing fair.
Adapt and/or innovate . . . or die.
Instead of struggling and playing out all stages of grief, let’s turn all that wasted energy towards creativity.
Respond before you have to react.
I’m doing some “skunkworks” Real Estate Firm concepts in my laboratory (Pareto Realty).
and I’m starting with taking Hamdi Ulukaya’s lead by beginning with valuing people over profits.
What’s your strategy?