Solution Brief

IBM Watson Talent Frameworks

for Real Estate
Industry specific job skills for organizational success

Page 1 IBM Talent Management Solutions

 The shift to online services and the emergence of ‘surban’ creating an engaging employee experience to drive better
living underscore new ways to consider Real Estate. Agents business results.
need to be nimble in adapting to emerging trends and
providing innovative solutions to buyers’ needs. Aligning Watson Talent Frameworks includes several key elements:
requisite skills to the talent pool helps maximize employee ––Pre-defined job profiles detail the skills and levels of
outcomes and drive business success. Understand the proficiency employees need to excel.
talent you have, the skills you want to retain and the skills ––Standard job descriptions attract qualified candidates by
you need to develop with Watson Talent Frameworks. clearly defining key responsibilities.
––Interview questions provide a guide for accurately
Our solution supports you in quickly onboarding new assessing candidates.
property acquisition managers with a detailed set of skills ––Job-specific skills, behaviours and coaching tips support
and expectations specific to individual roles. Retain your managers in facilitating clear, objective performance
best brokers and sales agents by providing clear visibility reviews.
to future career opportunities, and engage existing ––SMART development statements give employees
valuations and appraisal staff with skill-specific content to specialized, actionable practices to help them improve
drive day-to-day performance and on-going development. and achieve more.
––Learning References provide a path for growth and
Connect People to Business development.
Watson Talent Frameworks for Real Estate ensures a ––The jobs taxonomy drives engagement with clear and
benchmark model to centralize and provide consistency transparent career opportunities.
in how you define jobs and skills across all aspects of
talent management. It provides HR both data and content Watson Talent Frameworks powers people analytics and
to match the right talent with company requirements, cognitive HR with a data rich foundation.

Fig 1: IBM Watson Talent Frameworks architecture

Framework: Real Estate

Additional accelerator Job Families: 5+

content. A taxonomy of job families
by industry creates a focused
framework of job profiles specific to
Interview Questions Real Estate.
(3-5 per skill)

Job Profiles: 30+

Job profiles are categorized into
SMART Development
Statements
Competencies & job families by function with clear
(3-5 per skill) Skills: 160+ identification of recommended
functional and technical skills by
All relevant competencies
industry.
and skills are pre-aligned to
Coaching Tips each individual job profile.
(3-5 per skill) Each competency also
includes 4 proficiency
levels.

Learning References
(5-10 per skill)

Page 2 IBM Talent Management Solutions

 Deep Dive: Job Profile
Let us peruse a job profile from Watson Talent Frameworks for Real Estate to better understand the data and content available.
Consider the job profile of a ‘Real Estate Broker’ highlighted below as a sample.

Table 1. Job profile classification with descriptions.

Job Family Code RESSM

Job Family Name Real Estate Sales and Marketing

Job Family Description Jobs related to attracting prospective buyers, selling and executing the sales transactions associated with real
property.

Job Profile Code RESSM-4REB

Job Profile Real Estate Broker

Job Role Description Acts as an intermediary between real estate sellers and buyers; markets and sells real estate on the behalf of
clients.

Job Band ID 4

Job Responsibility (1) Guides a buyer/seller through the purchase/sale process and provides real estate consulting services as
required by clients.
(2) Markets real estate properties to maximize their exposure.
(3) Prepares all necessary paperwork as required by the law and ensures that all activities are carried out
within legal boundaries.
(4) Provides high quality customer service to current and potential clients.

* Each job profile is assigned a unique job code ID, mapped to a job family, and tagged to an appropriate job band.
* Apart from descriptions of the main job family and the job role, each job profile includes four key job responsibilities.

Table 1.1. Job band categories and descriptions for each.

Job Band ID Job Band Name Job Band Description

1 Executive Management Vision, policy, strategy and direction setting; Enterprise and industry view; Driving
organizational goals

2 Senior Management Strategy formulation; Vision implementation; Operational responsibility; Cost and risk
management; Enterprise view

3 Management; Functional, technical or process leadership; Management of multiple teams; High complexity
Senior Level Consulting and ambiguity; Tactical responsibilities

4 First Line Management; Team or technical supervision; Expertise and experience with complex technical activities;
Senior Professional Project management and consulting

5 Team Leadership; Difficult technical tasks; Implementation experience; Self-sufficiency; Small project
Technical Professional responsibility; Technical supervision

6 Administrator; Routine technical or administrative tasks; Follows procedures; Operates under supervision
Technician, Trainee

* Each job profile is mapped to one of six pre-defined job bands.

Page 3 IBM Talent Management Solutions

 Deep Dive: Competencies & Skills - Overview
Let us explore recommended competencies and skills data for the sample job profile highlighted in Table 1.

Table 2. List of all competencies recommended for Real Estate Broker: RESSM-4REB.

Competency Code Competency Name Proficiency Level Priority

B0050 Knowledge of Organization 2 - Working Experience 1 - Low

B0100 Operational Functions 2 - Working Experience 1 - Low

B0150 Products and Services 2 - Working Experience 2 - Medium

B0160 Service Excellence 2 - Working Experience 3 - High

B0200 Business Markets 2 - Working Experience 3 - High

B0290 Business Acumen 2 - Working Experience 3 - High

B0295 Business Orientation 2 - Working Experience 3 - High

B0350 Industry Knowledge 2 - Working Experience 2 - Medium

B0450 Business Ethics 2 - Working Experience 3 - High

B0770 Business Statistics 2 - Working Experience 2 - Medium

B0900 Office Support Tools 2 - Working Experience 2 - Medium

B1040 Meeting Management 2 - Working Experience 2 - Medium

I0100 Interpersonal Relationships 2 - Working Experience 2 - Medium

I0200 Flexibility and Adaptability 2 - Working Experience 2 - Medium

I0300 Consulting 2 - Working Experience 2 - Medium

I0480 Effective Communications 2 - Working Experience 3 - High

I0500 Effective Presentations 2 - Working Experience 2 - Medium

I0750 Negotiating 2 - Working Experience 3 - High

I0800 Confidentiality 2 - Working Experience 3 - High

I0970 Initiative 2 - Working Experience 3 - High

I1000 Managing Multiple Priorities 2 - Working Experience 2 - Medium

I1010 Relationship Management 2 - Working Experience 3 - High

I1020 Analytical Thinking 2 - Working Experience 2 - Medium

TREST4010 Lease and Property Management - Real Estate 1 - Basic Understanding 1 - Low

TREST4020 Real Estate Law & Policy Compliance 2 - Working Experience 3 - High

TREST5000 Real Estate Brokerage Services 3 - Extensive Experience 3 - High

TREST5010 Real Estate Practice 3 - Extensive Experience 3 - High

TREST5030 Real Estate Field Sales 3 - Extensive Experience 2 - Medium

TREST5050 Sales Scoping and Qualification - Real Estate 3 - Extensive Experience 2 - Medium

TREST5060 Marketing Channels - Real Estate 3 - Extensive Experience 3 - High

TREST5070 Real Estate Sales Closings and Agreements 3 - Extensive Experience 3 - High

Page 4 IBM Talent Management Solutions

 Deep Dive: Competencies & Skills - Detail
Let us explore all the data and content available for the sample competency highlighted in Table 2.

Table 3. Competency and skill details of Real Estate Brokerage Services: TREST5000.

Competency Code: TREST5000 Competency Name: Real Estate Brokerage Services

Competency Description Knowledge of the scope of real estate brokerage services and related practices; ability to assist clients in the
real estate purchasing or selling process.

Level 1: Basic understanding

Level 2: Working experience

Proficiency Levels
Level 3: Extensive experience

Level 4: Subject matter depth/breadth

(1) Clarifies issues and considerations for real estate regulatory agency and reporting requirements.
(2) Consults on a range of real estate brokerage services.
Proficiency Level (3) Executes complex real estate brokerage tasks.
Behaviors (4) Facilitates clients through real estate transactions and optimizes mutual profitability.
(5) Guides the development of organizational real estate brokerage service strategies.
(6) Plans real estate brokerage service activities to achieve service excellence.

* Each competency is defined by four levels of proficiency – Level 1: Basic understanding, Level 2: Working experience, Level 3: Extensive experience,
Level 4: Subject matter depth/breadth

Table 3.1. Accelerator content for each competency includes – Interview questions & SMART Development statements.

Competency Code: TREST5000 Competency Name: Real Estate Brokerage Services

(1) Tell me about your past experience with the real estate brokerage function.
(2) How does your organization’s real estate brokerage services differ from those of your competitors?
(3) Please list the major tasks and responsibilities of real estate brokers and salespersons. How are these
Interview Questions
delegated?
(4) What kinds of problems did you encounter with a given real estate brokerage service?
(5) What was your most significant achievement in the real estate brokerage business in your last position?

(1) Establish a new real estate brokerage business model in 6 months.

(2) Propose a plan to adjust the organization’s business process in response to up-coming changes in real
estate brokerage regulations within 2 weeks.
Development Statement
(3) Improve the profitability of the organizations’ real estate brokerage business by 10% by the end of this year.
(4) Increase client satisfaction with real state brokerage services by 10% in the next year.
(5) Learn and be able to explain 3 new real estate brokerage service approaches in 6 months.

*Accelerator content helps managers and employees engage with competency and skill data in an on-going manner.

Page 5 IBM Talent Management Solutions

 Table 3.2. Accelerator content for each competency also includes – Coaching tips & Learning references.

Competency Code: TREST5000 Competency Name: Real Estate Brokerage Services

(1) Consults experts on ideas or initiatives that can enhance the effectiveness of real estate brokerage
services.
(2) Plan the development of real estate brokerage service strategies that reflect the organization’s overall
strategies.
Coaching
(3) Attend training seminars on the real estate brokerage business. Learn how to optimize work flow, ensure
Tip Descriptions
compliance, or increase results.
(4) Find opportunities to meet real estate industry professionals to build relationships that can benefit your
organization.
(5) Monitor marketplace trends and the development of brokerage services in the real estate industry.

Learning References

Learning Books Books Books Organizations, External World Wide Web

Reference Type Associations Publications

Modern Real Real Estate ABC's of National Journal of Real National

Estate Practice Market Analysis: Prospecting, The: Association Estate Practice Association
Learning
A Case Study The Ultimate of Real Estate and Education of Realtors:
Reference
Approach System for Every Brokers (JREPE) Research
Name
Real Estate Sales (NAREB)-Training
Professional

This book A practical guide Outlines Links for NAREB A journal Research reports
provides a book illustrating advanced skills resources presenting and resources
comprehensive approaches and techniques regarding research studies offered by
illustration for evaluating for dealing with real estate of real estate the National
of the key trends and clients in the real certification, practices. Association of
disciplines and understanding estate industry. exams and Offered by the Realtors.
practices within key factors licenses. American Real
the real estate affecting the real Estate Society
industry and estate market. (ARES), this
Learning
gives practical Examples are journal aims to
References
examples. given regarding promote training
Description
models for and education
multifamily, for real estate
hotel, office, in areas such as
industrial, development,
entertainment, finance,
mixed-use, management,
and/or master- market analysis,
planned marketing and
communities. valuation.

Galaty, Fillmore Schmitz and Russell, Dameon

Author
W. et al Brett V.

Dearborn Real Urban Land BookSurge American Real

Publisher
Estate Education Institute Publishing Estate Society

Publication 2002 2009 2007

Year

Amazon Amazon Amazon National

Provider Association of
Realtors

http://www. http://business. http://www.

nareb.com/view/ fullerton.edu/ realtor.org/
URL
forms/training. finance/jrepe/ Research
aspx

ISBN-13: 978- ISBN-13: 978- ISBN-13: 978-

ISBN_ASIN
0793144280 0874201369 1419661488

Page 6 IBM Talent Management Solutions

 Keeping it Current
Watson Talent Frameworks is developed by a
dedicated team using an independent research
methodology and augmented by Watson. IBM applies
machine learning to analyze and synthesize daily
feeds of job board data. Watson identifies new or © Copyright IBM Corporation (“IBM”) 2018
updated content which is then further refined by the IBM Corporation
IBM content curation team.
New Orchard Road,
Armonk, NY 10504
As part of the process, every framework goes through U.S.A.
a comprehensive review to identify changes relevant Produced in the United States of America
to industry trends. These changes are validated to May 2018
ensure that the job architecture is up to date with
IBM, the IBM logo, ibm.com are trademarks of International Business
current skill demands in the industry. Machines Corp., registered in many jurisdictions worldwide. Other
product and service names might be trademarks of IBM or other
companies. A current list of IBM trademarks is available on the web at
Sources include:
“Copyright and trademark information” at www.ibm.com/legal/
––Career and recruiting websites copytrade.shtml.
––Client surveys and content workshops
This document is current as of the initial date of publication and may be
––Disruptive industry changes changed by IBM at any time. Not all offerings are available in every
––New disciplines, job functions, job roles, or skills country in which IBM operates.
in technology or new industries THE INFORMATION IN THIS DOCUMENT IS PROVIDED “AS IS”
––Organizational development and HR best WITHOUT ANY WARRANTY, EXPRESS OR IMPLIED, INCLUDING
practices WITHOUT ANY WARRANTIES OF MERCHANTABILITY, FITNESS FOR A
PARTICULAR PURPOSE AND ANY WARRANTY OR CONDITION OF
––Regulatory legislation and industry compliance NON-INFRINGEMENT. IBM products are warranted according to the
requirements terms and conditions of the agreements under which they are provided.
––Research organizations and professional
associations Please Recycle

––Vision and thought leading vertical experts

To learn more about Watson Talent Frameworks,

visit ibm.biz/talentframeworks or contact your IBM
representative.

LOS14090USEN-01

Page 7 IBM Talent Management Solutions