Important Lesson I Learned On The Playground

Performance Property Real Estate Question

Q: I’m having trouble finding consistently reliable people for my local real estate team. What should I be looking for? Derek, Cranford, NJ

A: No man is an island–you need competent people around you to be successful in real estate or any business. The competence of your team is as important as your individual competence! When I was a kid I loved sports and music and every day on the playground during recess I played some sport (football, kickball, soccer, basketball etc.) Every day at recess, all the kids who wanted to play would gather with a ball, then 2 kids would be chosen or self-appointed captain then each captain would alternate picking players until everyone who wanted to play was assigned to a team. The best and most valuable players would normally get picked first. In adult professional life, we also choose the teams we play on and with except that our team members in most cases have to choose us also–it’s a two-way street. In professional life, the most valuable people are most sought after and therefore get to pick who they want to work with or for. As Charlie Munger, Chairman of Berkshire Hathaway says, “everyone wants the best person that’ll also have them.” Therefore, the key to having the best team is not just identifying the best people you want to work with but also in being the best possible teammate yourself so that you can attract and retain the best people on your team. Thanks for your question, Derek.

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