13 tips to help bolster your Real Estate Business

Real Estate

Coaching

Given the scale of his operations, it is amazing that Noah Ostroff, founder of Global Living Companies in Philadelphia, Penn., has only been in the real estate business eight years. By the end of 2016, he and his team closed more than $138 million in sales volume that year.

He shares how KW MAPS Coaching has helped fortifiy his success and offers coaching tips to help bolster your real estate business.

Meet Noah Ostroff*

In 2008, when the housing and financial markets were recessing, Ostroff got his real estate license, joined Coldwell Banker Preferred and earned Rookie of the Year for closing more deals in his first year than anyone in the company’s history. In 2014, looking for a more collaborative environment and a framework for even more growth, Ostroff transitioned with 15 team members to Keller Williams Philly South.

“When I came to Keller Williams, there was a great shift in my whole approach. Instead of learning how to sell more houses, I learned how to achieve success through others and how to efficiently run a business.”
Because he wanted to push himself even further, Ostroff signed up for weekly KW MAPS Coaching. While he has clearly had great success in the Philadelphia area, Ostroff was not content with the natural boundaries that a large city limited him to, which is the metropolitan area and its surroundings. So, he set a 10-year goal to form 50 teams that will do $1 billion in sales. The plan is already in high gear.

One year ago, Ostroff formed his company, Global Living Companies, and bulked up his team so he could focus on expansion. Now the Global Living family of real estate offices include Philly Living, Jersey Living, Palm Beach Living, and Miami Living

Ostroff has since hired a second KW MAPS Coach, and he points out that each coach specializes in a different aspect of leadership and business to help him with strategy so that he is consistently working to his highest and best potential. Not only does he receive coaching, but this year he has taken on the role of KW MAPS Coach himself.

“I work with two people each week and it has been rewarding for me to share what I’ve learned. I help them consider ways to execute on their unique visions and build strategies for overcoming distractions to focus on what is most important to them.”
In 2016, Ostroff started his own KW franchise in Philadelphia and is now the operating officer of the brokerage. He is proof that even if you are already doing well, coaching can hold you accountable to your craft and fine-tune your specific story to fortify your confidence.

Since KW Maps Coaching has been crucial to his success, Osftroff offers 13 coaching tips to help bolster your real estate business. 

Align accomplishments with goals. What did you accomplish this week? Do your accomplishments align with your goals? A coach will remind you of what you said you were going to do. For every aspect of your business, whether you like it or not, having someone to hold you accountable helps your bottom line.

Work more ON your business rather than IN your business. There will always be emails, urgencies, interruptions and meetings. These things are going to happen no matter what. So, do some strategic planning to stay focused on where you can get the highest return on your time and energy

Guard and protect your lead generation time. No matter how busy you are, no matter what distractions come your way, make sure you spend time every single day generating leads.

Allow yourself to be open to learning about your areas of weakness. Don’t be sensitive about it either. A coach is neutral and has an outsider’s perspective. They can likely laser in on your weaknesses far better than you can. Learn from them and improve.

Set goals equal to your potential. A goal is a dream with a deadline. People often set goals far too low for themselves. You must ask yourself why you aren’t setting goals high enough. Is it fear? A limiting belief? Negative self-talk? What’s your potential? When you know, set goals that will get you there.

Surround yourself with success.“You are the average of the five people you spend the most time with,” says entrepreneur Jim Rohn. So surround yourself with a cadre of high-level thinkers, passionate leaders, and entrepreneurs.

Think like a businessperson, not like a real estate agent. We all want to sell more houses, but we need to learn to think like business owners instead of sales agents.

Be comfortable with being uncomfortable. A coach is going to take you outside of your comfort zone because comfort zones are meant to be disrupted.

Change perceived limitations. This is all about mindset and you must do the mental work to remove them. Our lives and our careers are determined by our acceptance or rejection of our perceived limitations.

Set the stage. Make sure you have the infrastructure and systems in place to fully implement all the ideas that will be generated by coaching.

Don’t be afraid to pay well for the right talent. Great people will give you the highest return on investment. A great hire is worth three times what a good hire is worth.

Have a plan. A coach will help you refine your business plan and concentrate on the activities that are directly tied to your success.

Dig deep with a coach to hone in on your Big Why. It is the road map for all you do.

*This story was originally published in OutFront Magazine.