My mom’s reaction to “shelter in place”

My mom’s reaction to “shelter in place”

Compass Family,

When the “shelter in place” order came down for roughly 7 million people in the Bay Area on Monday, my mind immediately went to our 4,000 employees and agents in the region — and also to my mom Ruth, who raised me in Berkeley and still considers it her hometown. (And yesterday, the mayor said New York City may also be told to shelter in place this week.)

I asked my mom how she was feeling, thinking she’d be stressed, but her response surprised me. She said, “This is good news because it reflects that people are taking it seriously enough now to take the action that will make sure it ends faster.” I then asked her how her daily work is changing and she said: “Other than not going to the office, I’m able to use the Compass tools as easily from home and when I have a question for IT, Market Advisors or Agent Experience Managers, I’ve gotten answers immediately. Plus, I was always too busy to take the time to learn all the tools, but now I actually have the time and Compass Academy has all the online training I need.”

It’s a beautiful demonstration of the power of an abundance mindset — which, in challenging times, requires more effort to maintain but is even more important. In my video yesterday, I talked about how your transactions and revenue aren’t being eliminated, they’re being deferred. (Click here to watch the video on Workplace.) My mom agreed. She said that people who were in this business during 9/11 and 2008 remember there there were a number of slow months, but “when things came back, it was busier than it had ever been.” Right now, it’s very hard to predict when that comeback moment will be. But whenever it happens, “it’s going to be so incredibly busy.” There are certain kinds of wisdom you only get from decades of lived experience, and I’m grateful we work in an industry that values that.

Here are some resources that may be helpful today:

  1. If you’re looking for something to send to your sphere that’s perfect for this moment, check out this excellent email template — Top 10 Things To Do While ‘Social Distancing’, 5 Tips For Working From Home, and a section for Featured Listings — originally created by Philadelphia agent Kay McGrath. 
  2. Click here to load a customizable version into Marketing Center to send to your sphere as a newsletter (requires a login). 
  3. I’ve attached both sets of tips (for social distancing and working from home) as PDF one-sheets.
  4. Click here for a folder of Instagram assets to post on social media.
  5. Did you know your Compass Google account enables you to schedule video meetings with your clients? You can use Google Calendar to schedule a meeting and add a video call with Google Hangouts with a single click. There's no software download required. Click here for a very clear guide to setting up your first video call. And a tip: Never use a new tool for the first time with a client. It’s always good to test it out with a colleague first for a dry run!
  6. In my daily video this morning, I shared the importance of bringing your authentic self to work while working from home — bringing your family closer to work and your work closer to family. You can now watch my daily videos on Workplace as well as Instagram, Facebook and LinkedIn.

Stay strong and stay healthy, and as always: Reach out to your sales manager, your Agent Experience Manager and ME directly and let us know how we can help you most during this time. 

Best, 

Robert

Market cap is back under 1 billion. (currently around 900 million) People talk about a buyout, but who would buy an unprofitable residential brokerage for a billion dollars? Maybe Anywhere/Realogy would make an offer, but their own market cap is under 700 million. What is Compass worth? Two or three hundred million, at most? Still a lot of downside left on this stock.

Bob Smith

RETIRED SINCE 2002 at Bank of America

1 年

based on a guidance that they can maintain their costs at $850-$950m in the face of a recovery - they can’t. As their revenues go up, their costs follow because that is how agent commission works, agent sell more (rev up), the company nets a smaller delta incrementally - via hurdles / caps, etc.

Jack Dai

DN.com provides advertising and trading services for 5 million premium domain names worldwide

4 年
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Kim Arenas

Kim Arenas Team at Compass | Licensed Real Estate Salesperson | Helping residential buyers & sellers in Westchester County, NY

4 年

Thank you, Robert!

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Jack Dai

DN.com provides advertising and trading services for 5 million premium domain names worldwide

4 年

Thanks Robert

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