What every estate agent can learn from ‘House of Cards’.
Despite being rather slow on the uptake, I am now obsessed with House of Cards. If you too are a Netflix fiend, you may have already gleaned a few lessons from the hit TV show. But if not, there is a high chance you have at least heard of Kevin Spacey’s portrayal of the machiavellian American politician, Frank Underwood.
Despite being extremely successful, Frank plays a dirty game. Between manipulating those closest to him and stabbing friends in the back, he makes incredibly ruthless decisions in order to get ahead, without so much as batting an eyelid.
Thankfully Frank is a fictional character and politics is not quite as cutthroat as the series makes out. However there are some fantastically valuable lessons we can learn from the leading man; both do’s and don’ts when it comes to business, and estate agency in particular.
1. “Power is a lot like real estate. It’s all about location, location, location. The closer you are to the source the higher your property value.”
Frank rises through the ranks by maintaining a strong network of powerful people around him and playing it just right in every situation. The lesson? Don’t underestimate your network – connections are vital to moving up in the world, winning business, and gaining influence.
And what better way to expand your network than through utilising the biggest virtual communities in the world? Social media is a goldmine for building your authority and contact list, both in regards to prospects and professional contacts.
In an industry built on personal relationships and referrals, social media offers estate agents the chance to network any time, any place. All you need are the right tools to help you manage social media marketing and get the most from it (at Propertyflock we develop software specifically designed for estate agents).
2. “That’s how you devour a whale, Doug – one bite at a time.”
When it comes to achieving something big, remind yourself it doesn’t happen overnight. It often takes a series of smaller wins – persevere.
3. “We’ve been crippled by Social Security. By Medicare. Medicaid. Welfare. And entitlements. And that is the root of the problem. Entitlements. Let me be clear: You are entitled to nothing.”
It may be hard to hear, but this blunt lesson – you are entitled to nothing – is an important motivator. Whether it’s selling your services or negotiating a deal, never let arrogance or complacency hold you back.
4. Become a problem solver.
Despite being incredibly good at what he does, Frank Underwood has experienced his fair share of setbacks. But like any great businessman, when things don’t go to plan he finds another route instead of wasting time complaining.
Be the person who brings solutions to the table, not problems.
5. Nothing lasts forever.
The ruthless politician seems to posses the illusion of immortality, but arrogance is a fatal flaw that results in Frank making careless mistakes.
The lesson? Realise that your reputation can diminish and is only maintained by continuously meeting high standards – you are only good as your last deal. Understand (and demonstrate) your value, but always strive to be better.
6. “Power doesn’t sleep in.”
Wake early, work hard.
(I don’t know about you, but it is incredibly satisfying getting stuff done while other people are sleeping.)
7. Information is power.
Frank Underwood knows everything there is to know about his opponents and his allies and it stands him in incredibly good stead.
Learn from what your competitors are doing, and learn even more about your customers. Stay up to date with news and developments locally and nationally, and build your reputation as the go-to expert; local expertise wins clients.
Don’t forget to be brutally honest with yourself too: understand and address your own flaws and vulnerabilities. Much better you have this information than your competitors.
8. “The nature of promises, Linda, is that they remain immune to changing circumstances.”
Self explanatory: stay true to your word.
Even when the landscape shifts, fulfil your promises in order to maintain a positive relationship with friends, clients, and most importantly, yourself.
9. “There’s no better way to overpower a trickle of doubt than with a flood of naked truth.”
This hammers down the (often underestimated) power of truth. When someone doubts you or your intentions, being brutally honest can often turn the tide.
It is no secret than estate agents are not the public’s favourite, and recent polling has found that only 22% of Britons trust them – on par with journalists and only marginally above politicians. This bad reputation is a result of people believing estate agents lie. And during a property transaction worth hundreds of thousands of pounds, trust is everything.
When you don’t have an answer, be honest, don’t just say what sounds good. When you know you can’t deliver what a client wants, explain why and what it will take (from you and them both) to meet their expectations.
Being honest may well cost you a listing to a competitor who is willing to lie, but integrity will win you lasting reputation, trust and referrals.
10. “You had me at… well, no, not yet. Do more.”
Similar to point 3: never assume you will win anyone’s business because of a reputation that proceeds you or a strong brand behind you. Treat every case individually and work to show every prospect why they cannot afford not to instruct you.
11. Relationships are very, very important.
Relationships matter, everywhere. House of Cards fantastically demonstrates the power of strong relationships but also the fragile nature of them. If you don’t manage your relationships they can easily have a negative impact on you achieving your goals.
You never know when you may need to call in a favour, or who has the potential to recommend you, so maintain healthy relationships with colleagues, past clients, and other industry professionals.
12. “Treading water is the same as drowning for people like you and me.”
If you stand still, you’re going backwards. In today’s world (and particularly in the property industry which is now a breeding ground for disruptive startups), technology is rapidly changing the business landscape. So much so that Cisco has warned that over two-thirds of businesses will be dead in a decade simply because they fail to adapt to digital.
The lesson? Keep an ear to the ground of new developments, embrace (rather than fear) them, and – in true Frank Underwood style – be prepared to adapt or die.
Propertyflock provides thousands of estate agents with free software that makes social media less time consuming and more rewarding. Find out more: www.propertyflock.co.uk
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