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Got a minute? If you're a busy manager, that's about all you have. That's why Carla Cross, management coach, speaker, and author, has created this blog just for you, with ready-to-use tips to master management through people.

Archive for lead generation

trainer hand in airThis month, we’re focusing on training. Why? Because you can recruit your heart out, but, if you’re not developing each agent to his/her potential, you’re not retaining! (and you have a revolving door……)

By the way, check out my website for a free coaching product ($100 value) as my thanks to all you trainer/coaches.

“Oh, no. I’ve been doing EVERYTHING wrong!” That’s what one of my attendees groaned after I explained the training calendar evaluation tool I created to help trainers assess their training programs. Too often, I see training programs thrown together from various cobbled (and ripped off….) sources. Sure. You can do that and call it your training program. But, it makes for a disjointed, shattered ‘picture’ of your company and culture. And, it doesn’t work to get what you want—more production and profits.

Here, I want to share an analysis tool I created that will help you see the good and challenging parts of your training program and tune it up to really make a difference in your company.

Do You Really Have a Training Program?

When asked this question in a National Association of Realtors’ survey, the majority of the brokers said they did have a training program. But, what does that mean? What does it encompass? How would I know you had a real program? Here are the three questions to ask yourself to see if you really have any type of cohesive, coherent training program focused on the results you want:

1. Is your training program a part of your business plan?
2. Have you created a training calendar so you know what you’re doing and when you’re doing it?
3. Could I look at your calendar and see exactly why you had scheduled those events—and that they had cohesiveness to your ‘big picture’?

Evaluate your Training Program Now

The training calendar evaluation tool I mentioned above is invaluable to see how effective your training program really is—and to target the changes you want to make so you’re training with purpose.

At the end of this blog, I’ll share it with you. First, let’s walk through it.

What Kind of Training Are You Offering?

Look at your training calendar. If you don’t have one, simply take a 3-month calendar and write in the training you’re providing.
What’s the ratio of business-producing vs. business supporting training modules? When I see some training calendars, I can see why their training is not increasing productivity. All their modules are concerned with business supporting subjects (technical knowledge): home inspections, the law of agency, websites, social media, etc. That’s all nice, but what does it directly do with creating productivity? Here’s the path to a sale:

Lead generation

Interviews/qualifying buyers and sellers

Listing homes/showing homes

Selling a home/listing sells        $$$$$$$$$$$$$$$$$$$$$$$$$

If you want to increase productivity and profits, your training calendar needs to reflect your training in these business-producing areas.

What are you training to that will make a real difference in your productivity and profits next year? Put that in your business plan.

What Does Your Profit and Loss Statement Tell You to Train To?

Take a look at your P and L. What’s your ratio of listings sold to sales? Do you like that ratio? Would you like it to be different? Do you want more sold listings? If so, start training to that. When I took over a failing office, I saw the ratio of listings taken to listings sold was a miserable 30%! So, I started action-focused training on the whole listing process. I had them role-playing their hearts out. I did a listing presentation play-offs  In short, I trained them specifically to change that ratio for the better. By the end of three years, our ‘conversion’ ratios were 85%–the highest in the area.
What is your training accomplishing? What do you need it to accomplish? Want can you measure?

Who Are You Training?

We segment our markets when we design our marketing plans. We need to segment our ‘market’ for our training plan, too. In this case, our ‘market’ is our agents. When I ask seasoned agents about whether there is a training program in their company, they say ‘yes’. It’s for the new agent. What? Are those seasoned agents in the office chopped liver?

Click here to grab the training calendar evaluator.

Tell me: How would you rate your training, on a scale of 1-10, 10 being fantastic? What can you do to improve it?

man ponderingSelling real estate: What’s farming got to do with it?

No—I don’t mean farming the fields to reap the food. Well, yes I do—in a different context. In real estate sales, ‘farming’ means contacting people in a specific market (can be a geographical area), forming a business relationship with them over time, and making that area/target market your specialty. Through time, people get to know and trust you, and will turn to you for their real estate needs.

Recently, an office with whom I consult invited a master real estate ‘farmer’ who farms a specific geographic area to share with us his secrets to great success. Steve Hicks, agent with Windermere Wall Street in downtown Seattle, has enjoyed a dominant market share (that’s his PERSONAL market share, not the company!) in Queen Anne, a very upscale, historically-significant area of Seattle, Washington.
So, guess what? When people in Queen Anne are thinking buying or selling, who do you think they think of? Yes—Steve Hicks. How would you like to have that name recognition? How would you like to go to a listing presentation with respect for your expertise already built in? Steve has established that.

Here are 3 big principles Steve shared with the group, mainly seasoned, successful agents on the Eastside of Puget Sound.

1. Recognition, Trust, and Business Doesn’t Come from a “Once Is Enough” Approach

One of the big lessons Steve left with the group was that, to be successful, you must focus your efforts. Why? Because people buy and sell real estate with people they know and trust. They buy and sell real estate with those they believe have expertise in the area. That trust and respect doesn’t happen in a ‘once is enough’ approach. Today, agents in the great Puget Sound can roam far and wide to list and sell homes. What they don’t realize, though, is that they are not establishing a recognition for excellence, expertise, and trustworthiness.

Big lesson: What does this mean to you if you’re a small business owner, a salesperson in another field, or a recruiter?
That our goal is to establish a trusting relationship over a period of time, building a reputation for trustworthiness and excellence. Too many times, we launch our businesses thinking we’re something special, something different—and we expect success in a nano-second.

Stop and reflect: What are you doing to create a reputation that’s spotless, that’s trustworthy, and that’s there for the long run?

2. Contact, Capture, and Follow-up is Key to Relationship-Building

Steve didn’t become the ‘master farmer’ overnight. He built his business through constant reflection, taking risks, and trying new things. Most importantly, he built his business by first knocking on doors to establish that relationship. At the same time, he captured each person’s name and contact information, first, by writing it down, and then establishing a database and contact management system. Then, he dutifully followed up. Sounds simple, but, how many salespeople contact—and then don’t capture? Or, they capture, and don’t follow up. Steve says there are 22,000+ agents in his multiple listing service. He knows he must out contact, capture, and follow up to stand out.

Big lesson: No matter if you’re in real estate or in another field, if you want to build a business, immediately establish a method to contact, capture, and follow up.

Stop and reflect: Are you a service business, like a dentist, window washer, or car detailer? Do you have a list of all your clients in a database? Do you contact them regularly? If not, you’re leaving thousands of easy dollars on the table!

3. Consistency is Key

Too often, we think, since we’re trustworthy, since we’re nice people, since we work hard, people will recognize that and instantly work with us. Wrong. It takes dozens of contacts or time to establish a trusting business relationship. Steve has a marketing plan that includes a monthly newsletter. This newsletter includes information about homes for sale and homes that have sold. It is short and concise. Steve writes his own newsletter, but advises agents to start with as company-or other resource written newsletter. Why? The most important consideration is to be consistent.

Big lesson: No matter what your business is, you need a consistent marketing plan to ‘touch’ your would-be and present/past clients at least monthly. With 22,000+ real estate agents in the area, your potential/present client is easily ‘swayed’ to someone else if you’re not relentlessly consistent.

Stop and reflect: Do you have a marketing plan? Are you consistent? How many easy sales are you missing because you are treating your business like a ‘once is enough’?

My personal thanks to Steve Hicks for sharing his expertise with others in our industry to improve our client service. Starting with my years as a piano performer and teacher, I learned that the very best in any profession have several common traits. One of them is that they generously share their knowledge with no fear that someone will ‘steal’ their ideas. Second is that they are constantly challenging themselves to get better. Steve Hicks reflects both of these exceptional success qualities.

How can you  use these principles yourself? How can you use them with your agents?

logoIf Your Agents Aren’t Buying Into Lead Generation, You Need this Program!

What if your culture was that productive agents are the norm? What if all your agents lead generated? How much more profitable would you be? If you want increased profits, take a look at Carla’s revolutionary online training/coaching program, Up and Running in Real Estate.

assignmentThis month is recruiting month on my blog.

What reasons have you run across, as a recruiter, that people give in telling you why they won’t move? I

n the previous blog, we explored the first three reasons agents stay–and how to move them. Here are the 6 reasons:

  1.      Starting over is time-consuming.
  2.          Re-branding can take away from your productivity.
  3.          They are ‘happy where they are’.
  4.          They aren’t convinced the grass is greener.
  5.          They are afraid of change.
  6.          They have gotten an offer from their present ownership to entice them to stay (better commission split, freebies, ownership, etc.)—they’re ‘bought back’.

Now, we’ll tackle the last 3. By the way, don’t forget to grab my transition plan below.

Which of these barriers have you experienced as a recruiter/interviewer?

How to Fire Up that Discontent

Before we go to reasons 4, 5, and 6, let’s discuss a little more about #3: I’m happy where I am.  Sure. They all (or most of them) say that. My question to you is,  Are you asking the right questions of the candidate? You should be asking questions to help that candidate reveal areas of discontent. For example: Has the candidate been in the business several years? Does he have some frustration in the direction the company is taking? If he has voiced concerns to you, keep asking probing questions about those concerns to raise his level of discontent. Don’t worry. You won’t create discontent where he has none! But, many times we just live with that discontent—just like I did with that bathroom–because we’ve too complacent to do something about it!  I want you to practice with someone to increase that pain. Don’t jump to the better picture with you or solve the problem until you’ve explored the depth and reasons for that pain.

One of the agents I recruited told me she was ‘happy where she was’, and proceeded to tell me all the things she wanted changed in the company—and was frustrated she couldn’t change them. After our conversation, I said, ‘You sure sound happy!’ She laughed, and then joined our company. Sometimes just acknowledging the discontent lets the candidate move off dead center.

  1. They Aren’t Convinced the Grass is Greener

Earlier, I said some reasons for staying are valid. I believe that the grass isn’t always greener. At least, not the kind of grass some managers fertilize! For instance, a better commission split rarely solves a production problem. But, agents try to solve it by going to an in-expensive desk fee company. Sure, less expenses are the easy way to think the problem is solved. But, the underlying cause of low production is still there. The greener grass is actually a manager with the systems to help that agent produce more successfully. Although the commission splits and fees must be competitive, they rarely resolve the real problem—discontent with the production level.

  1. They are Afraid of Change

Is there anyone who isn’t afraid of change? No matter what we say, we are where we are because we are more comfortable with that than the unknown. How can you help that candidate become acclimated to the ‘new’?

  • ·        Invite the candidate to your training sessions. 
  • ·        Offer to coach the agent.
  • ·        Invite the agent to social functions.
  • ·        Include the agent in your newsletters and social media.
  • ·        Show the agent around your office and introduce him/her to your associates.

In other words, start treating the agent like she’s with you—before she is.

  1. They are ‘bought back’.

What does this say to the agents in that office? “You’re much less valuable than the less than loyal person who is leaving us.” I don’t believe in buying back an agent. You ruin your teamwork and become less than a fair leader. Instead, of getting in a bidding war for the agent, simply recruit the other agents in that office who can’t be thrilled when they find out they are second-class citizens!

How do you handle these ‘status quo’ decisions? The more skilled you become at ‘disrupting’ the status quo, the more candidates you recruit.

Don’t forget to grab my transition plan. Click here.

Do You Have an Effective Recruiting Plan?

small CompleteRecruiter

Want recruiting strategies? Don’t have a recruiting plan? Get my comprehensive resource, The Complete Recruiter.  Click here to see it.

Do You Have a Selection System?

Blueprint_Ebook_DisplayOr, you can get them into your office, but you’re having trouble picking winners? Check out my dandy eBook, Your Blueprint to Selecting Winners.

hand with keyCongratulations! You’ve helped your agents each gain a business plan. That’s a huge key to their success–but only the first step. Now, how can you capitalize on all that work (both you and the agents?) It’s not enough to teach them to plan, or even to sit down with each agent and work through their plans. In order to really help them use those plans as a guide all year, you need to use that business plan as a platform from which to coach the agent all year.

Here are the basics of coaching to a business plan.

How often should you coach?

That depends on the agent. For newer agents, coach more frequently (at least monthly). For seasoned agents, coach a minimum of quarterly and better yet, monthly.

What should you coach to?

You’re going to use the numbers that the agent is generating by measuring the results of his business plan:

First, the goals: listings sold, sales, listings. Then, you’re going to help that agent measure activities:

Lead generation

Listing/sales appointments

You’re going to help the agent translate the activity numbers into ratios so the agent knows the work he must do to reach his goals.

Why bother to use the business plan as a foundation for coaching?

Because, otherwise, you’re just giving advice or doing ‘crisis management’. You want to be perceived as a trusted business coach, helping the agent grow his/her business.

Big questions: Is the planning system you’re using

1. Help the agent assess his business–where he’s been?

2. Help the agent set realistic goals and an action plan that translates into daily activities?

3. Has an accurate method to measure the activities and results of the activities so you and the agent can make fast adjustments?

Man-Walking-Up-Stairs-to-GlobeWant Some Support to Get Your Agents Business Plans?

Why not contact me to find out how I can educate your agents on business planning and support and coach you as a leader. Give me a call at 425.392-6914 or email me at carla@carlacross.com. I can do a webinar series for you, supply you will all the planning documents, and help your leadership coach your agents–at a very affordable cost with big pay-off for you.

clockThrough December, I’m focusing on business planning in my blogs. Look for checklists, processes, and systems–ready to use.

Business Planning: Is Time Management One of your Agents’ Biggest Challenges?

If you’re like most of us, (and your agents), you have much more on your ‘to do’ list than you get to during your business day. What does that have to do with business planning? At this time of year, we need to analyze how we spent our time. Then, we can make adjustments for next year. All of us have the same amount of time, yet, some people seem to know how to optimize it.

We Don’t Manage Time

The notion that we manage time is actually a mis-nomer. We manage activities. Have you ever known an agent who comes into the office every day, seems to work hard, yet makes little money? That person would tell you he manages his time. Yet, his time is spent doing the wrong activities. (Or, maybe, he intends to spend his time in non-productive activities…….).

As managers, you can be very influential in helping agents better manage those activities through their business plan.

A Major Principle for Great Time/Activity Management

In Up and Running in 30 Days, (use this program if you’re under a year in the business for business planning) I introduced the principle of categorizing activities so that you can tell whether you are spending your time in activities that will make you money—or not. All real estate activities can be categorized as either

Business producing or

Business supporting

Which are which: Those activities that have you meeting people directly (lead generation), working with people, and selling houses are business producing. All the rest are business supporting. Do your agents know the difference? Use the following analysis tool to help your agents see how they are spending their time. It will literally tell them (and you) why they are making the money they are making!

Click here to get my time/activity analysis, excerpted from my online business planning resources for agents and managers, Beyond the Basics of Business Planning.

Let me know what you found out from your time/activity analysis, and the changes you’re making for next year’s business plan.

Plan_Act_CelebrateGrab the Business Planning System Internationally Published Exclusively for Real Estate Pros

If you’re tired of filling in the blanks with numbers that mean little to you, it’s time to step up to a real strategic planning system–a system made exclusively for real estate pros. Check it out at Beyond the Basics of Business Planning.

hands of keysAre you getting the best performance from your agents? Is there something you can do to get better performance and results?Have you ever considered that you have the power to do that?

Recently, one of my coaching clients (an owner of a real estate company) asked me, “Why do some trainers and coaches get great results and others don’t–but seem to be working as hard?”

Great question, huh? In fact, if we trainer/coach types knew that answer, we could build our systems so that we assured great performance! We don’t talk about ‘performance’ in the real estate industry. But, isn’t that the key to more production and profits? If the agent doesn’t do great lead generation, do exceptional presentations, and use exceptional performance skills working with and closing clients, the agent fails — those are all performance issues.

To get some insights, then, into performance,  I went back to my ‘former life’–that as a musician and piano/flute teacher, and thought, “Why do some piano teachers create great performers–and others don’t?”

Why Use Piano Teachers as the Analogy….

I use the analogy of the piano teacher, because it’s easy to hear differences in sloppy and great performance. I’m sure you’ve heard 2 people play the same piece of music. One plays it accurately and one just kind of slops through it. Or, some piano teachers’ students drop out, unmotivated to practice, while others stay motivated, challenged, and achieve high performance–even if they don’t seem to have great talent.

Five Proven Components for Great Performance

From having taken piano lessons since age six, gaining a degree in piano performance, and having taught piano at the grade, high school, and college level, I’ve had an opportunity to see the great and the not-so-great–both teachers and performers. Here are the five components I’ve discovered make the biggest difference in great performance.

1. Great piano teachers screen in and screen out.

They don’t let just anybody take lessons from them. Trainers and coaches: What’s your ‘screen in’ process? Do you have one? Do you have a list of questions you ask? In our coaching company, we have a prescribed list of questions we ask potential clients (and we unfortunately have to turn down some). I even have a Coachability Assessment I provide potential clients. Click here to request your copy.

2. Great piano teachers set expected standards (minimums) during the screening process–not after the lessons start!

Those standards include: Amount of practice each day, recitals attended and played in, going to lessons, etc. What do you expect of your clients? Make a list of at least 5 standards now–and get the ‘mutual expectations’ agreement in writing prior to letting them into your program.

3. Great piano teachers figure out the ‘competency levels’ they want their students to attain–and when they expect them.

How good do you expect your students to get in that one-month training program you’ve been doing? Do you even measure skill levels? Which skill levels to you measure? How? Do you have your students practice their listing presentations until they reach the level of competency you believe the real client expects? What an eye-opener! Make a list now of 5 skills and the level of competency you want your students to attain in your training program. You’ll see your outcomes go way up just by doing this.

4. Great piano teachers get better performance because their excellent students motivate other good students to excellence.

Have you ever gotten yourself into the situation where you felt like you were way above the other people in your group? This isn’t an ego thing–it’s just a ‘I don’t belong here’ thing. Likes attract. Good performers motivate other good performers. Excellent performers stay. Are you creating a self-motivating group–or, are you creating a situation where your good performers will leave for a team that is ‘more like them’? This goes back to those ‘screen in’ and setting competency principles. I know we all feel challenged when people don’t appear motivated. Here’s one of the secrets to fire them up!

5. Great piano teachers provide lavish praise–when deserved.

Behavior that’s rewarded is repeated.

If you have competency levels, you have a way and a reason to praise. Your students/clients know when they have reached those levels–and can expect praise, too! In fact, strong students/clients will ask you for praise. Write down the 5-10 methods you use to appreciate and praise good performance. If you can’t get to 10, figure them out.

But, what about the method? The specific coaching, the training? Yes, the method is important, but the coaching/training techniques above are much more important. I’ve heard some great performers and some poor performers all playing the same kind of music from the same method. At the same time, great methods should have some ‘built-in’ features that assure the trainer/coach is achieving these 5 principles.

Principles, System, Coaching–Putting it All Together

From talking with prominent trainers, managers, and coaches, we’ve pinpointed a need for all those training and coaching today to get the coaching they need to turn out great performers. These are the systems I’ve integrated into my training programs, such as Up and Running in Real Estate. Are you integrating these 5 performance points into your coaching and training?

 

many peole standing recruitingRecruiting: 6 Reasons They Stay and How to Move Them–Do you know? If you’ve recruited, you’ve heard the common—and expected—objections to coming to your company. There are only about 5 or 6. But, what can you do to convince someone who is intent on staying where he/she is—to make the move?

In this first blog, we’ll explore the first 3 reasons.

Most Common Reasons Agents Stay Where they Are

When I knew I was going to write this blog, I asked my friends on Facebook and LinkedIn to share with me what they thought were the most common reasons agents don’t make the move. Here they are:

1.      Starting over is time-consuming.

2.      Re-branding can take away from your productivity.

3.      They are ‘happy where they are’.

4.      They aren’t convinced the grass is greener.

5.      They are afraid of change.

6.      They have gotten an offer from their present ownership to entice them to stay (better commission split, freebies, ownership, etc.)—they’re ‘bought back’.

Some of these, I think, are valid, maybe for the wrong reasons. Let’s look at each of them, along with exploring why people make certain decisions, and how you can affect those decisions.

1.      1. Starting Over is Time-Consuming

Well, that’s true. It is. And, the longer we’ve been in a job, the more comfortable we are there. At face value, we can all agree with that. So, as a recruiter, what can you do to ease the burden of transition? You can create a transition plan that takes away the pain. Do you have a checklist, along with the personnel, to make that transition painless (or at least almost painless)? Show you are dedicated to managing the transition so the agent can be more productive. One of the things you’ll learn as you take them through the items on the transition plan is that most agents either have no database or a database they haven’t updated to years! So, you’ll want to assign an assistant to update or create the database. Your transition plan should include a pre-written email and hard copy message that is customized and sent by the assistant to a designated number of people in the agent’s database.

Managing the transition process really works. Armed with an assistant dedicated to implementing the transition plan, a top producing agent actually got more referrals and doubled his income the year he went from company A to company B. Why? Because the assistant ‘drove’ the contacts to the agent, increasing by far the ‘touches’ the agent had made to his valued past clients.

Click here to get my transition plan.

2. Re-branding Can Take Away from your Productivity

This is similar to the first ‘stay where I am’ reason. But, it goes further. Put yourself in the agent’s shoes. How would you like to face ordering new business cards, changing your logo on all print/electronic materials, updating your website, your blog, your social media? Overwhelming. So, that must all be included in your transition plan.

Proof is in the outcome: Be sure to gather testimonials of those you’ve helped transition, along with their income increases. That speaks volumes to the candidate!

3. They are ‘happy where they are’.

Of course they are. We’re all where we are because we believe it is safer, less fearful, and more predictable than the unknown. And, we’re happy they’re happy. But, here’s the real question: Do you believe they would be happier with you? Do you fervently believe you can help them further their careers? That’s where it starts. If you believe they would be better served to be with you, it’s your job to gain the skills to help them start feeling more comfortable with the ‘unknown.’

The Motivational Cycle Gives Us Clues for Supporting Change

Let’s look at how each of us decides to make a change—in anything. What causes you to finally make any change? How discontented to you need to be before you take action? The motivational cycle gives us clues:

 Starting the motivational cycle. First we have unrealized discontent. For example: One of our bathrooms has cried out for some re-modeling, and I have ignored the cries for years. But, finally, for some reason, I recognized that cry for ‘polish’. I had talked to a contractor months ago but didn’t follow through (investigation). Recently, I finally realized that discontent (I looked at the peeling wallpaper behind the door one too many times!). Now, because my conscious discontent has been nagging me, I just made the call to the contractor.  I’m ready to take action and get that bathroom looking nice! That will mean my need is realized. But, guess what? I’ll have another episode of discontent!

Our job as ‘motivational cycle facilitators’ is to help the candidate feel the maximum amount of his discontent.

Which agents have you tried to recruit who have thrown these barriers in your way? How skilled have you been at removing them?

Tune in for the next blog to explore the other 3 reasons agents give that they stay.

Sep
03

10 Best Recruiting Sources

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assignmentDo you know what your best recruiting sources are? Are they prioritized in your recruiting plan? Are you saying, as most managers say, ‘what recruiting plan?’ Can you list at least 10 sources?

To get my list of 10 best sources, click here.

The Importance of Listing Several Sources

Most managers don’t have an ‘on purpose’ recruiting plan. Instead, they wait for people to come to them. This results in a ‘feast or famine’ result in recruiting. Not only that, but, if managers get desperate for bodies, they tend to hire just anyone (agents complain to me about this all the time….). Then, they blame their training or coaching programs for not making these non-workers go to work. (Sound familiar?). So, an on purpose prioritized source recruiting plan is paramount for success–and changes your recruiting results for the better.

List your sources of recruits here.

Now, prioritize them.

Why Prioritize Your Sources

You don’t have time to run around trying to recruit everybody. Instead, you’ll want to target your recruiting efforts based on your best sources. So, think about the best agents you have now. Where did they come from? How did you find them? From my experience, my best sources were my agents, who referred me to other great agents. Don’t expect all your agents to be good referrers. Some will do an abundant job for you; others never refer.

10 Sources is the Magic Number

Most managers work only 2-3 sources. Yet, they complain about the quality of their agents, and decry their lack of motivation and production. What’s the ‘cure’? Working 6-10 sources to assure you have plenty of candidates. That’s just like I teach in Up and Running in Real Estate to real estate agents. I show them the numbers and priorities of their lead generating sources, so they can manage their activity and result levels of their businesses. It’s the same in recruiting.

Get Those Sources Prioritized and Schedule your Candidate Appointments

Through prioritizing your sources and working enough of them, you’ll find it easy to schedule 5-10 appointments a week. You’ll hire 3-5 great agents a month. You’ll see your profits soar!

Don’t forget! To get my list of 10 best sources, click here.

Gain Your Recruiting Strategy and Never Look Back!

small CompleteRecruiter

If you don’t have a recruiting strategy and a plan, now’s the time to get one! Right now, you can purchase The Complete Recruiter for half price: $59.95 plus shipping (regularly $129.95 plus shipping).   You’ll get my easy to use 5-step Planner and dozens of strategies, plus letters, processes, etc. to recruit winners. Check it out here.

 

man with pockets turned out

Why don’t new agents make more money their first year in the business? According to the latest NAR survey, agents in their first 2 years made an average of $8700. NAR didn’t break it down into the first year. But, I know there are too many agents under a year who have made on 1-3 sales! Why? With all the training and coaching available today, wouldn’t you think that new agents would do much better much faster?

Why do you think they languish so long?

Low Production–The Reasons

I have five big reasons for no-low production.

1. My survey of agents under 3 months in the business showed they intended to make a sale in the first month in the business. But, as you know, most of them don’t. So, guess what? Their enthusiasm and motivation dies after month one! Yet, we know it takes much more tenacity and perseverance to lead generate and take all that rejection to get to that first sale. So, the first reason is

Tenacity and motivation dies too quickly when the sale doesn’t happen quickly

2. My second reason is that agents are not told the truth about the business (or, they don’t listen). They think the business is anything BUT lead generation. So, they don’t gain sales skills. They don’t lead generate ‘generously’. Bottom line: They wait and wait for those leads. Not enough leads  = not enough clients = no sales!

3. Third reason: They don’t start the business as a business with a start-up plan. They don’t have action priorities. Instead, they go to ‘training’–where they learn lots of neat stuff–but no priorities. They literally don’t know what to do on Monday to jump-start their businesses.

4. They don’t really start their business–ever. The business starts when you start lead generating. They run out of time, money, and motivation before they ever gather enough leads to screen those leads and work with good clients.

5. They don’t have a coach–someone who helps them straighten out those priorities and stay focused on the important actions in the business. Without a coach to catch their before they fall too far to get up, they create a business with priorities that assure failure.

The Solutions

Give your new agents a start your business plan on day one and let them know THAT is what they are to do!

Help them get their priorities right by working with you as a coach.

Support them in lead generation at a very ‘generous’ level to find GOOD leads who will be easy to convert–and who will love the agent!

Doing the three things above will keep your agents’ motivation high until they make that first sale.

Motivation

There’s only one thing that really motivates: success. Each agent is in charge of  her own success. Our jobs as managers and coaches is to provide that start-up plan, that coaching, and an honest and true picture of the business.

What do you think causes a newer agent to fail?

thumbnail-1Up and Running in Real Estate Starts You Right to an Exceptional Career

Congratulations to the 3 winners of the scholarships for my new UP and Running in Real Estate program:

Jeffery Doescher of Apollo Realty in Cocoa Beach, Florida

Stacy Coppola of Coldwell Banker in Castro Valley, California

Bessie Selfridge of Coldwell Banker in Port St Lucie, FL

You can bet they are going to get the secrets of becoming a top producer–and get into action with the most proven business start-up plan in the business!

Do you have newer agents who you know should succeed? Please do them a favor and have they enroll in Up and Running in Real Estate. All the training, coaching, and supporting documents are online, so agents can go at their own speed and go back as many times as they want. How this program is different: It is foundationed with a business start-up plan, so agents learn how to self-manage a successful business, not just do activities. And, there’s nothing else to buy–no extra cards that stay in their trunks! (And, there’s a coaching component for you to support your agent every step of the way!).

Check it out and see how you can reach your agents can reach their potential–and beyond!

Exactly what does a successful agent do daily to create exceptional production? You sure need to know to help your agents grasp effective time management. So, I’ve made a model ‘day in the life for you.’  Compare your agents’ schedule to this schedule. At the bottom of this page, I’m supplying you a ‘fill-in’ schedule with an evaluator so you can help your agents get better at scheduling for productivity.

8:00 a.m. to 9 a.m.                   Paperwork/database input

9 a.m. to 11 a.m.                     Lead generate pro-actively (most important principle in time management: proactively lead generate 2 hours in the morning)

If you have an office meeting, make up your lead generation in the early afternoon

11a. m. to 12 noon                   Preview properties (or office tour to preview properties)

Noon to 1 p.m.                          Lunch

1 p.m. to 3 p.m.                        Lead generate an additional 2 hours (if new agent with no or few qualifying appointments or offer presentations)—or, may do this from 6 to 8 p. m. if needed to contact buyers and sellers when they are available

Or, if you are an experienced agent, substitute qualifying appointments to show/list marketable properties for lead generating activities

3 p.m. to 5 p.m.                        Show homes to qualified buyers/present offers (see below for alternate times for presenting offers)

5 p.m. to 6 p.m.                        Paperwork/market your listings/prepare for buyer tours

6 p. m. to 7 p. m.                      Dinner

7 p. m. to 9:30 p. m.                 Present offers/represent seller at offer presentations

Balance: Your business-producing activities (lead generating, qualifying, showing, listing, offer presentations) should take 4-5 hours a day when you are new, or are re-generating your business. Your business-supporting activities should take no more than 3-4 hours a day.

Experienced agents steadily growing their businesses: Lead generate 2 hours a day in the mornings, 4 days a week.

Many more time management tips, strategies, and prototype plans are in Up and Running in 30 Days. 

Click here to get your complimentary fill-in schedule with an evaluator to help you manage time more effectively.

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