Tami Bonnell HeadshotEXIT Realty Corp International’s CEO TAMI BONNELL is an internationally renowned leader in the real estate industry and was instrumental in building three major brands. Among her many achievements, she was recognized by Real Estate trend watcher, Stephan Swanepoel, three years consecutively as one of the 200 most Powerful and influential   people in residential real estate, among the top 20 corporate executives and among the top 10 women leaders.

 Ms. Bonnell has been a featured speaker at the NATIONAL ASSOCIATION OF REALTOR’S® convention to the Top 500 power brokers, The National Women’s Council REALTORS®, Inman News Connect Conference and the RIS Media’s Leadership Conference.  

She was named to the National Association of Women in Housing & Real Estate Ecosystem ( NAWRB) Diversity & Inclusion Leadership Council (NDLIC).

Ms. Bonnell was honored by STEM connector as one of it’s 100 Corporate Women Leaders in STEM (science, technology, engineering and math).

Ms. Bonnell is a 30 plus year veteran of the real estate industry and joined EXIT Realty in 1999. She was appointed Chief Executive Officer in 2012.

She is a wife, mother of three and grandmother of three. In her spare time she is a martial artist, coach and referee.

 
 
 
Posted On Thursday, 28 January 2021 00:00 Written by

Between fact-checkers and Yelpers, the Information Age is laden with a visual archive of how customers and clients perceive products, services, or even your organizational culture. Navigating how to keep your customers happy is already an insurmountable task some days, and now we must factor in their very public display of their satisfaction or dissatisfaction with you.

In years past, you might have been able to overcome a bad review of your customer service department by simply reassuring your client that they were correct, or that you would remedy the situation in the future. That is certainly no longer the case, as every customer has their own digital megaphone in their front pocket or purse, just waiting in the wings to weaponize it at will.

I’m here to tell you that this is not a good or bad thing; it merely exists. Technological changes and access to information are only going to accelerate, especially given the emergence of 5G connectivity. That means customers will be satisfied or dissatisfied with what you have to offer as an organization much quicker than in years gone by.

1. Equity in Customer Relationships

Because of this, we must not just focus on customer satisfaction and the quality of our products and services alone; we must shift our focus to our customer relationships. No matter what kind of customer our organization has, your relationship with them and understanding their intricate needs have become integral to your success.

Every industry has a variety of options when it comes to products and services. So many companies focus both their attention and finances on how to stand out in the way of their products and services, boasting that they care about their customers almost as if they’re merely checking that box off the list.

However, customers aren’t naive! They know when you really mean it, and to many, their allegiance with a brand, product, or service hinges solely on their relationship either with the staff at said company, or the company culture.

The brick-and-mortar example many can likely relate to in recent years is the younger generations attending their favorite coffee shop, whether it be Starbucks or a local small bistro. I’ve heard more often than not that individuals personally connect with the staff and culture at their favorite coffee shop, where their preference of coffee might very well follow their connection to the business.

2. Customer Relationships Rooted in Culture

In the coffee shop example, culture is what several customers identify with. Whether culture is corporate culture or the individual personalities of the staff, the relationship between a company and a customer is directly rooted in culture. Consider the image your organization portrays to the general public and, also, the significance of your products and services in the world.

Recently, I discussed the importance of understanding how customers perceive you and how you and your team perceive yourselves. This directly correlates to the relationship you have with both your regular customers and potential new ones. Do you give off an image of innovation, progression, and forward thinking, or are you archaic, outdated, and protecting and defending your status quo?

Most customers want a bit of both. They come to you because your relationship with them has never faltered and you understand “their usual”; however, they want to be dazzled and for their evolving needs to be met, even when they don’t know exactly what those needs are. As an Anticipatory Organization, you must understand those evolving needs even when your customer does not. This is a corporate culture a customer gravitates towards, whether you’re a technology firm designing an app or a coffee shop.

Your significance is another integral part of your culture being what a customer relationship is rooted in. A focus on success is usually a focus only on the bottom line, no matter who makes us that money. Longevity in business comes from a focus on significance over success, where your impact in the world or your industry and being a positive disruptor is what strengthens your relationships, both new and old.

3. Trust Holds It All Together

In a world filled with uncertainty, you have to ask yourself what you are certain about. The number one thing I’m certain about is that the future is all about relationships.

If you want a positive future, then you need to have positive relationships with your customers. And if you want positive relationships, you have to focus on the glue that holds a positive relationship together: trust.

Previously, I mentioned that customers prefer you to both stay the same and evolve and innovate. The part of them that prefers you to maintain the status quo actually translates to their trust in your products and services, not for you to resist change. When they have a positive relationship with you, it means they trust you and, likewise, trust where your company is heading.

Anytime you disregard their trust when you innovate, you run the risk of turning that relationship into a negative one, which, in the Information Age, not only means you lose them as a customer, word of that broken trust will spread like wildfire on all social media platforms, causing you to lose new customers before you’ve ever had a chance to build a relationship with them.

4. Always Consider the Customer

So how do you win this constant battle between maintaining a customer’s trust and innovating? 

Before you implement any new product, service, or change in policy or procedure, ask yourself, “How will this impact our relationships with old and new customers?” If it proves to damage your existing customer relationships, then don’t do it in that way. Find a way to implement change that does not tarnish your customer’s trust, which would thus damage the relationship.

My Anticipatory Organization Model brings focus to Hard Trends, which are future certainties that will happen and the problems those disruptions may cause. Every customer you have a relationship with has a problem that needs solving. Be the one that solves it to further their trust in your company, product, or service and maintain your quality relationship with them.

 

Source: Burrus.com

Posted On Tuesday, 08 August 2023 00:00 Written by
Posted On Tuesday, 26 January 2021 00:00 Written by

Business is booming and a large number of first time buyers are entering or coming back to the market. It’s a great time to make that commitment to buy that first house, but in many cases, the buyers don’t get the full story or know ALL of their options. See if any of these sound familiar:

• You are going to need a seller’s contribution to get into a house.
• You can only borrow a certain amount of money.
• You only qualify for this type of program.

People are told these things but are never actually given all of their options or a plan to improve their opportunities! We all know it’s almost impossible to get a seller’s contribution in most markets across the country. So why set that client and the referral partner up for frustration and failure? Was it ever suggested that that client and likely co-borrower entertain taking a part time job to generate additional funds? Two people working a job that even paid $10 an hour could easily generate an extra thousand or two a month. Instead of being frustrated, empower them to solve the problem. It may take a few months or longer to get the cash needed to not needing help from the seller, but isn’t that better than not making any progress at all?

Sometimes credit scores or DTI steps in and becomes a challenge. Instead of just giving the borrowers a smaller loan at a higher rate, what if we used the extra money earned to pay down or pay off debt? That $300 a month car loan with two years left to go can be paid down or off so that $300 can easily become about $70K in additional borrowing power!

What if we are stuck with a limited down payment and need FHA or USDA in order to buy? A couple of thousand dollars a month can quickly grow down payments to 5% or 10% or more! Lower rates, lower or zero MI costs, all possible IF the clients knew they had options!

Think about it. Look back at your preapprovals that are three or more months old and ask yourself; would these people be in a better position to buy if they were banking an additional thousand or two in the bank every month and had a real plan on how to use that money to get their house and under significantly better conditions?

Questions or comments: This email address is being protected from spambots. You need JavaScript enabled to view it.

Posted On Monday, 25 January 2021 00:00 Written by
Posted On Friday, 22 January 2021 00:00 Written by

In the United States, manufacturing is a huge sector. Its importance to our national and global economy is evident in how many white- and blue-collar jobs are integral in each process. From plastic injection molding to hydraulic valve assembly, manufacturing is likely found in nearly every industry.

With such an all-encompassing sector, it’s no surprise that disruptions run rampant, though even during COVID-19, many manufacturing businesses were deemed essential, keeping their doors open and employees on-site. However, just as many sent their white-collar office workers home to shelter in place and do their job remotely.

This is something the manufacturing industry likely never considered prior to the boom of the Internet and, now, the increase in connectivity with 5G. Yet what these companies must realize is, even now after COVID-19, digital disruption is going to get even more prevalent in manufacturing.

Agility Alone Is Antiquated

We’re all aware that there are timeless leadership principles that have been true since the dawn of time and that will continue to be valid in tomorrow’s business environment. Yet in today’s world of technology-driven transformation, leaders must embrace a new leadership principle if they want their organization to be relevant today and in the future—a focus on anticipation over agility.

Even in the wake of COVID-19, manufacturing leaders have focused on agility—being able to adapt quickly after change has occurred from the outside in. Many of these types of changes are driven by technology, but during 2020, change has been physical and largely unpredictable. COVID-19 influenced many in the manufacturing industry as priorities shifted. Companies like Ford Motor Company shifted to building ventilators and 3M adjusted to produce PPE.

And among these massive changes, many office employees worked from home until further notice. There were astounding, never-before-seen statistics showing evidence that working from home actually increased productivity, as many were able to eliminate distractions and likewise felt more at ease doing their work flexibly.

Though as we moved into the new normal, many manufacturing firms quickly shifted those remote workers back to in-person work, almost running from change with frightening fervor. An outsider can tell that this knee-jerk reaction to thinking they can “end” the need for remote work is a direct reflection of a company’s focus remaining on agility.

Learn to Anticipate Instead of Avoid

Manufacturing companies’ race to bring their entire staff to in-person work seems as though they thought embracing a remote workforce was a temporary solution; a band-aid they had to rip off to get back to the status quo. If they resisted a simple, commonplace change like that, imagine how they will fight back against machine learning or augmented reality (A.R.), a way in which blue-collar workers could operate remotely.

COVID-19 and the global pandemic will end, but many of the transformations that occurred during this largely physical disruption will remain and are indisputably going to continue to evolve as digital disruptions in the industry. With the emergence of 5G connectivity, the low latency of such a digital connection will pave the way for integrating artificial intelligence (A.I.) and the aforementioned augmented reality (A.R.).

There are certain companies already embracing these technologies around the world, allowing for employees ordinarily put out of a job due to these advancements to work alongside them, on-site and remotely, and keep their jobs.

Many firms try their best to avoid digital disruption; however, that agility can only last so long. Leaders and organizations in the manufacturing industry have the chance to learn how to be anticipatory immediately, paying attention to the Hard Trends that are shaping their industry both inside and out, and learning to leverage technological change before it disrupts them.

Be the Positive Disruptor

When you’re anticipatory, you’re creating changes and driving disruption from the inside out rather than being disrupted from the outside in.

Disruption is the disruptive technology that changes our world and keeps many leaders up at night. But it is important to realize that disruptive technology is only disruptive if you didn’t know about it ahead of time. When you’re anticipatory, as many manufacturing firms should transition to, you can not only see and accurately anticipate those disruptive technologies, but you can use them to be the positive disruptor, transforming the industry in productive ways.

Manufacturing firms implementing something like A.R. to allow an employee to operate remotely like never before may increase their morale and, in turn, streamline their job better than ever before. From there, your firm may be able to increase productivity while saving money on physical space.

As the industry evolves, perhaps you will only need one or two individuals on-site to ensure these machines run efficiently, while everyone else works remotely, translating into a smaller space to do more with.

How Do I Become More Anticipatory?

First, you have to make the future more visible by focusing on certainties. If you look closely, you’ll see there are two types of change you routinely deal with: cyclical change that reoccurs time and again, and linear change that happens once and transforms an industry permanently.

Next, identify the Hard Trends—the trends that will happen—and ask yourself, “What are the disruptions on the horizon?” How we do our supply chain, purchasing, logistics, and many more functions in manufacturing is being transformed by technologies like the cloud and virtualization.

Finally, look outside your industry for the solutions you need. Manufacturing firms have a tendency of focusing solely on their isolated worlds. However, by being so immersed in your industry, you may be missing what’s going on outside your industry. Look outside your industry and see where others have been innovating, what changes they’ve made, technologies they’ve developed or adapted, and then modify those to your situation.

There’s no competitive advantage in being just like everyone else. That’s why being anticipatory is so important. What do you see that’s about to happen, and how can you use anticipation to leverage disruption and change to your advantage?

 

Source: Burrus.com

Posted On Wednesday, 20 January 2021 00:00 Written by

January arrives every year and brings with it some credit challenges for those who may have over indulged on their purchasing in December. Record online sales and spending on holiday gifts are nice, but may bring about a few “Sudden Credit Surprises” for your clients. Here are a few examples:

A client with a marginal credit score or already high DTI goes crazy with credit card purchases in December. The possible surprises are:

• Now total DTI exceeds program limits
• Lowers amount they can borrow
• May eliminate them from a loan completely
• Possible MI challenges
• New accounts
• New inquiries
• New credit lines that all require explanation/documentation

People with higher credit scores and no DTI issues are also at risk for being a victim of holiday season for the same reasons, and while not in jeopardy of losing their ability to borrow, the costs maybe higher than once before.

• Those in top tier pricing programs may fall out to a lower tier raising the cost.
• Those who fall out may experience severe price shock if they were locked in at a low rate before Christmas and now have to lock a lower tier credit score loan with today’s higher rates.

What if any or all of these things happen and you don’t find out about it until right before closing on the final credit check? Do you really want to run around trying to get a rescore or documentation cleared a few days before closing?

It’s time for every originator to review every file that is closing from now until the middle of February and have a quick conversation with each borrower to be sure we don’t have any last minute surprises! You may have to make a few calls, you may not have any issues, but what if you find just ONE HIDDEN CREDIT CHALLENGE and are able to correct it in time to avoid a delay or the termination of one of your deals?

Things are challenging enough without any more surprises! Spending a little time with borrowers and even those you have out looking with preapprovals may be in a position to fix some potential challenges because you called!

Questions or comments: This email address is being protected from spambots. You need JavaScript enabled to view it.

Posted On Monday, 18 January 2021 00:00 Written by
Posted On Friday, 15 January 2021 00:00 Written by

The advantage of Zero-Based thinking is that you are starting with a clean slate! There should be few pre-conceived notions with your primary focus on how to best go to market and take great care of your customers based on what’s going on today (and the days, weeks and months forthcoming). 

Three opening action items to participate in are recommended:

1. A new SWOT Analysis – SWOT Analyses (An assessment of current Strengths, Weaknesses, Opportunities, and Threats) can be very revealing. It is suggested that you have several of your smartest people participating in this exercise. Incidentally, if you do one every year, it should look different every year. This speaks well of the concept of constant fine-tuning of your business strategies and actions rather than doing what you have always done!

2. Have in-depth discussions with your top 5 customers. Identify the agendas of the top 2-3 people running those companies if you can get to them. If you can’t, talk to the most senior officers you can. Find out what is critically important to each of them and how you/your company might be able to positively impact them. Get passionate about providing the best and most targeted products the marketplace wants.

3. Put together “Deliverables Meetings” with 4-5 key people in your company to ascertain what you should add to or delete from your current product line or service offerings. Make sure you do Item #1 and Item #2 before you do Item #3 for best results. These can be some of your most important decisions going forward. When you vary your offerings from your competition, you have purposefully differentiated yourself in what is probably a crowded marketplace.

 With a Zero-based thinking approach you can also consider such important areas  as: employee compensation, capital expenditures, advanced marketing plans, and various areas of expansion and contractions.

It is also a good time to do a “Deep-dive” on research. The knowledge mass of the human race is now said to be doubling approximately every 3 ½ years! What’s changing in your industry? To assume not much is changing is usually a serious miscalculation of your current reality. What are some things that might well be changing?

1. Customer Needs

2. Employee’s priorities

3. Latest technologies in your business

4. Latest technology changes in general

5. Special or new applications of products

6. Financial applications

7. Expanded service requirements

8. New windows of opportunities

9. Closing windows of opportunity

10. Compensation in your industry

These are just some of the elements of change in a typical business. Give in-depth thought to others that would apply to your business and stay on top of current issues. It is better to figure out how to capitalize on changes rather than becoming a victim of them!

I suggest that you make a list of actions to cease and actions to take – with timelines. And ask yourself who should be “in the loop” on the various activities mentioned for best results. Be as creative as you can in tapping the collective intellect of your team members for best results.

Posted On Thursday, 28 March 2024 00:00 Written by
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