š ļøConstructive or Corrosiveā ļø: The Dual Faces of Organizational Culture
āEncourage one another and build one another up, just as you are also doing.ā
Think about your BIGGEST WIN
Now think about your BIGGEST LOSS
Often, we give credit to others when we win, then put so much pressure on ourselves when we lose.
I remember the first Commercial deal I ever had was a 15,000 sq foot office building with 55% vacancy. The seller wanted a million dollars, but the math showed buyers should be in the 550-650 range. The seller wouldnāt budge. Shannon, my partner and wife, having her M.B.A. from the Richard Ivey School of Business, went into spreadsheet mode and devised three strategies where we could list at 850 and use creative financing to get the seller there in 5 years with a VTB deal. We went to work.
A week later, we received a nasty email from another agent in our office berating our pricing and saying that we had no business listing this property because we were so new. What shocked me the most was he worked AT our office. This was when I realized the culture we were in was NOT collaborative- rather combative. Instead of focusing on the email(which we did like ordinary people for a bit, then detached)- we focused on the problem.
We found a buyer who LOVED our structure because they WERE the perfect buyer - it was just the capital allocation that wouldnāt make sense at a million- so we did a creative design that allowed them to put down WAY less of a downpayment, work on the building for five years get it to 95% occupancy and have a great asset. The seller got over a million, and everyone won- except that agent who wrote the nasty email.
His email led us to build PRIME. Looking back, we are eternally grateful- grateful he showed us who we DIDNāT want to become.
We wanted to become The most trusted name in real estate.
We wanted to become more than a brokerage.
We wanted to become more than a team.
We wanted to create an environment for people to love what they do.
We wanted to be known for not playing favorites.
We wanted everyone to win.
We wanted to learn to turn every problem into an opportunity.
The culture we found and the people we work with are great examples of how this is possible.
We found loyal and great staff.
We found collaborative, creative, and driven agents.
We found clients that are loyal, hardworking, and excellent at what they do.
We also found ourselves driving away people who donāt align with our values, and thatās okay. There are places and cultures for everyone.
What you focus on expands.
I am grateful for the mentors, team members, staff, and those who show us daily what collaboration truly means.
Whatās wild is the more you give, the more you get. Honestly, I donāt know where that agent is- I havenāt seen his name nor interacted with him, but rather than holding any resentment, Iām grateful for him, too.
What are you grateful for today?
