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 mentoring

bus-plan-6Checklist: Keys to being a great business planning coach.

This month, I’m focusing on business planning. I want every professional to have a great plan for next year. Look for checklists, processes, and systems, too, ready to use.

You’ve decided to coach your agents in creating great business plans. but, if you’ve never coached an agent in business planning, it can be quite daunting.A� So, what do you look for? In this blog, I’ll show you how to use their statistic

listings taken to listings sold in normal market time.

to coach them to a better year next year. You would think agents know this statistic, but very few do. Ita��s so important, because it

  1. Determines whether the agent makes enough money per listing or not
  2. Determines whether the agent builds a positive reputation or a poor one
  3. Reflects the agenta��s value-proposition strategy
  4. Reflects on the officea��s productivity and profitability

Your success rate with listings sold is, in my opinion, the one most important reflection of agent value propositions out there.

For example: A�George Smith, a 10-year seasoned agent, has demonstrated a consistent listing strategy. A�Georgea��s a�?success ratioa�� is 40%. That is, he sells 40% of his listings in normal market time. What does that say about Georgea��s values proposition strategy? How is George a�?usinga�� his listings? Is that the culture you want perpetuated in your office?

Sally Overton has a different value proposition strategy. She has a 90% success ratio in listings taken to listings sold in normal market time. Obviously, she is building her referral systema��her raving fans. She is making herself more money in less time. She is drastically reducing the number of complaints (and attacks on her self-esteem, too). She is a role model for best practices in her real estate office. Is that practice more in line with your culture?

Your opportunity: As Georgea��s business planning consultant, youa��ll be a�?testinga�� George to see if he wants to change his strategy (some agents love being a�?bait and switchersa�� too much to change). Youa��ll have the opportunity to help Sally leverage her awesome conversion rates to obtain even more raving fans. (Nothing succeeds like success).

Do you know your ‘conversion numbers’ in listings taken to listings sold for your company? When you make your own plan, be sure to do a thorough review, and find this number. A high number means you’ll be able to recruit better, get better retention, have better team spirit, and your agents can build on that reputation. A low number means you have a lot to work on!

Click here for a list of common agent business planning mistakes to help you as you coach agents through the planning process.

Excerpted from my agent business planning system,A�Beyond the Basics of Business Planning.

Watch my Complimentary Business Planning Webinar

During this fast-paced webinar youa��ll see:

  • Why your plan probably didna��t work for youa��and what to do about it
  • How to definitely find out what will work for YOU (not someone elsea��s plan!)
  • How to anticipate market shifts (!)
  • What to STOP doing in 2017
  • What one thing will assure your business plan works
  • Bonus: 10 Creative Marketing Ideas for your plan

Included handouts:

  1. The strategic planning process created exclusively for real estate professionals by Carla Cross
  2. Review: Your best sources of business

Click here to see the webinar and grab the handouts.

Here’s to a great 2017 with your polished business plan!

Plan_Act_Celebrate

Comprehensive OnlineA�Business Planning Program for Managers

Do you find it difficult to get your agents to plan? Do you put off doing your office plan? Here’s your solution. This all-new program does several things for you:

2 webinars teach your agents how to plan using Carla’s strategic planning system

14 planning documents are included to guide your agents right through the planning process

3 webinars for you:

1. How to Create a Great Office Plan

Included: 22 office planning documents to make it easy for you to stay on track and create a great plan

2. How to Convince your Agents to Plan

3. How to Integrate your Office and Agents’ Plans

Check out Beyond the Basics of Business Planning: A planning system exclusively for real estate managers.

coaching-standing-in-the-light If you’re coaching: Are you really motivating? This month, I’m focusing on coaching. Why? Because we have one more quarter to reach our goals. Coaching is proven to help all of us stay focused and get what we really want!

Are your motivating methods working? If you’re using the methods most managers use, they aren’t working like they used to. Why? Because today’s agents just aren’t motivated by the things ‘workers’ used to respond to. Today, it’s very important that we motivate effectively, because we have to get our agents into the market with confidence–and tenacity!

Motivational Methods Must Change

In his revealing and surprising book, Drive: The Surprising Truth About What Motivates Us, Daniel Pink lays out a persuasive case, backed by extensive scientific studies, about why the traditional a�?carrot and sticka�� motivational methods just dona��t work for us today. Ita��s especially true with real estate professionals. Why? Because we in effect work for ourselves. We have to be self-starters, initiators, and tenacious in our pursuit of our goals. That means we have to be motivated by things other than promises of material things.

Why Money Doesna��t Work as a Motivator

First, as Pink points out, money and/or material things are good short-term motivators. (Read Herzberga��s studies on short and long-term motivation). In fact, just take a look at the number of real estate agents who are motivated to visit an open house when therea��s food! But, as Herzberg and others have pointed out, money is a lousy long-term motivator. You know that if youa��ve tried motivating your kids with moneya��or threats (the carrot and stick).

I know. The agents all say they need to make more sales. But, what have you noticed they are willing to do to make those sales? Lead generate more regularly? Make more sales calls? We all know that lead generating is the answer to that money problem. Yet, the vast majority of agents avoid lead generating as if it gave us some chronic disease! So, money is just not an effective long-term motivator.

Best Motivators to Motivate Others

Pink shows, via extensive studies, that there are three driving motivators which we should put to work today to fire ourselves up, keep those fires lit, and achieve what we want to achieve. They are:

  1. Autonomy
  2. Mastery
  3. Purpose

Questions to Ask Your Agents to Get Them Excited Again

AboutA� Autonomy

  • Are you in charge of your own business, or are you waiting for someone else to tell you what to do?
  • Do you expect your manager to make you go to work, or are you self-directed and self-starting?
  • Are you disciplined in your business, so you can enjoy that autonomy?

Seth Godin, author of Tribes,A� says about autonomy: The art of the art {of autonomy} is picking your limits. Thata��s the autonomy I must cherish. The freedom to pick my boundaries.

My question to you: Do you have agents that you believe will never operate in autonomy? Don’t you need to invite them to another profession?

AboutA� Mastery

  • Are you working just to get by, or are you consistently working to get better? What do you want to excel at? How does that translate into your business?

About Purpose

  • What excites you so much you cana��t sleep at night?
  • Is there a way to translate that to your real estate business?

The desire to do something because you find it deeply satisfying and personally challenging inspires the highest levels of creativity, whether ita��s in the arts, sciences, or business. A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A� Teresa Amabile, Professor, Harvard University

More about effective motivation today:A�I’ve taken these new motivational techniques straight to the real estate industry with my new speaking presentation,A�Light ‘Em on Fire: Newest Motivators to Inspire your Team. Email me for information on bringing this inspiring presentation to you.

LM CoverOur Coaching Helps You Motivate

Carla Cross’s extensive background and study into effective motivation is an extra benefit to you in her Leadership Mastery coaching program. Click here for a complimentary consultation.

Blog-CoachIn the prior blog, we talked about the attributes of various types of coaching/mentoring programs. Coaching, mentoring, and peer coaching terms are used with wild abandon. So, are you offering coaching, mentoring, or peer coaching? What’s the difference? Should agents get a coach–or a mentor? Have you defined those terms? Are you clear with agents as to what they’re getting in each of these categories?A� Before you create a program, be sure you know what the program is and should do for that new or re-energizing agent.

Should I get a coach or mentor? Those are questions new agents (and seasoned agents) ask themselves over and over. This blog is excerpted from my eBook, What They Don’t Teach You in Pre-License School.

This advice is given to the agent entering the business, but, as a manager, read it as though you are also defining your services.

Types of Coaches

Professional coach: Someone trained to coach, who uses a specific program and who is paid to be your coach. If youa��re considering a professional coach, find out the specific program the coach will use to coach you. Get expectations in writing, and give your expectations in writing. You should expect to sign a 3-12 month contract.

Manager coach or in-office coach: Someone who may be trained as a coach, who has agreed to coach you. May be paid from your commissions or from a combination of office/your commissions. May be paid on an hourly based by the agent. Be sure this coach is prepared to be your accountability coach, has a specific schedule with you, and a specific start-up plan to coach you. Otherwise, youa��re just getting an a�?advice sessiona��.

Peer coach: Someone in the office, an agent, who has agreed to be your coach. However, this could be anything from

  • A�A�A�A�A�A�A�A�A� Answer questions
  • A�A�A�A�A�A�A�A�A� Let you a�?shadow thema�� (see how they do a listing/buyer presentation or offer presentation)
  • A�A�A�A�A�A�A�A� Be your accountability coach

Most peer coaches dona��t have a coaching program to coach to, and havena��t been trained. They are also at a loss with what to do if the agent refuses to do the work.

In my experience, the agent has the highest hopes that the peer coach will fulfill his dreams of whatever coaching is to him. The peer coach is hoping the agent just doesna��t ask too many questions!

Advice to Agents

If youa��re going to work with a peer coach, get in writing exactly what that peer coach is willing to do with and for you. Bad peer coaching can turn into a nightmarea��for both parties.

Agentsa�� advice: Dozens of experienced agents have told me they wish they had started with a professional coach. If you can find one to trusta��and to followa��youa��ll shorten your learning curve dramatically and easily pay for the coaching fee. Plus, youa��ll establish a successful long-term career.

Getting a Mentor

What is a a�?mentora��? Therea��s not a clearly defined job function. Mentors are usually seasoned agents who offer to help new agents. They may

  • A�A�A�A�A�A�A�A�A� Offer advice
  • A�A�A�A�A�A�A�A�A� Allow you to shadow them
  • A�A�A�A�A�A�A�A�A� Ask you to do parts of their business

New agents love the thought of a mentor, because they have so many questions. And, they think the mentor will be their a�?answer mana��. But, Ia��ve observed that having an a�?answer mana�� surely doesna��t guarantee success. In fact, it may impede an agent getting into action. How? An agent may think he needs more and more information before he will act. Then, he just keeps coming to the mentor for every question under the sun. And, the more the new agent knows, the more frightened he becomes. Plus, the advice received from the mentor may not be in the new agenta��s best interest.

If you are considering a mentor, get in writing exactly what the mentor will do for you.

Big question: Why is the mentor willing to help you? What does the mentor expect from you?

Treat getting a coach or a mentor as an employment issue. Create good questions and interview. Armed with the advice above, you’ll make the right decision for you.

Managers: What programs do you offer? Have you defined them? What are the benefits to your prospective ‘clients’?

what-they-dont-3d_cover

Save Time Interviewing. Help Sort the Serious from the Semi-Pros!

Are you spending hours educating would-be agents on the business? If so, you need this eBook! In 282 pages, Carla Cross provides answers to hundreds of questions agents have. Help your interviewees get the advice they need, find dozens of questions to ask, and use checklists to hit the ground running before they are licensed! Check out What They Don’t Teach You in Pre-License School.

Managers: Use the checklist on what to do in pre-license school to hit the ground running to ‘test’ your best interviewees and get them prepared to sell real estate FAST when they are licensed.