BY JONATHAN ROBERTS
jonathan@propwall.com

It is often said that difficult times bring the most opportunities. The determining factor of success or failure is how we react to the problems that lie ahead of us.

The apparent slowdown in the property market poses a huge challenge for real estate agencies. Stakeholders and industry players are predicting 2017 to be another flat year. With that in mind, what should real estate agencies do?

To answer this question, Propwall.my invited UCSI Extension Sdn Bhd chief executive officer Stephen Corneilius to help us understand how we can excel during challenging times.

Corneilius, a renowned and respected corporate trainer of multinational corporations, urges real estate agents to uptake a reconstructive approach. One that calls for an elevation in the standard of professional practice and code of conduct in the real estate industry.

As competition is the property market gets stiffer, real estate agents and negotiators need the ability to differentiate themselves to be able to succeed.

According to Corneilius, real estate leaders 'should set the motion on Change’. It refers to someone who is proactive, sets the right strategy of reconstructing the organisation ecosystem, and coming to a point where he wants to create innovation strategies.

“A value creation leader takes proactive measures to reconstruct the market boundaries in terms of strategy and to disrupt in terms of innovation, as compared to reacting or defending in terms of innovation,” he adds.

Principals and Team Leaders

Unlike before, many of the real estate negotiators today are young, some are even fresh graduates. This dispels the notion that a career in real estate appears bleak and dull for young people. Leaders in the agencies must leverage on the youths’ innovative ideas and fresh perspectives.

But with ongoing softening in the property market, principals and team leaders must reconstruct the agency culture in hopes of retaining these negotiators and making sure they stay motivated and effective.

“The top management of the real estate agencies must create an environment for learning and open doors for career enhancement for their negotiators,” he says.

On top of that, Corneilius opines that top management must adopt the cascading leadership. Changes, after all, begin at the top.

“Principals get involved in team meetings and spend a substantial amount of time with the young negotiators. As leaders, you have to be cognisant of the struggles of the negotiators and work together with them to find a solution. This also promotes an exchange of ideas from both parties and it empowers young negotiators to lead changes,” he says.

Real Estate Negotiators 

According to The Board of Valuers, Appraisers and Estate Agents Malaysia, there is an estimate of 20,000 registered real estate negotiators today. That, coupled with the staggering number of unlisted negotiators, it is no doubt a killer competition.

To be able to differentiate, negotiators must first understand the importance of industry knowledge, especially at a time when homebuyers have easy access to information. Corneilius says, as a negotiator, you must be able to provide accurate, relevant and real-time information.

“Real estate negotiators must be equipped with information and knowledge that homebuyers are not aware of, and that is how you help them,” he adds.

He also strongly urges negotiators to enlist in a professional program that will ultimately help them move up the ranks.

It is pivotal that negotiators alter the traditional sales school-of-thought. Corneilius opines that there has to be a transition from being sales-oriented to consultant-oriented. A negotiator who can introduce homebuyers to quality lawyers, mortgage experts or even act as a financial advisor is infinitely superior to the common negotiator – this is the very essence of value creation.

Lastly, negotiators must note that every new client is a new storyteller. Hence, Corneilius asserts negotiators to create their “Wow” moment.

“To be a successful negotiator, you must wow your clients and create a lasting legacy. You can do this by going the extra mile to help your client. Your client will be sure to inform his or her family and friends of your great effort,” he says.

Who is Stephen Corneilius?

Stephen Corneilius is a result oriented hands-on professional with over 30 years of experience in Organization Development, Productivity Improvement and Behavioral Change. He is currently the chief executive officer (CEO) of UCSI Extension Sdn Bhd, a wholly own subsidiary of UCSI Group, and also a trainer for a consulting unit providing life long-learning and growth opportunities for corporate clients and working adults in the Asian pacific region.