Archive for Profitability
What Leaders Do Differently from Managers
Posted by: | CommentsThis January, I’m featuring the topic ‘leadership’. Why? Because it’s one of the biggest real estate industry trends (and probably world trends) of 2012 and beyond. Look for leadership strategies and trends (not just in the real estate industry), plus ready-to-use documents to go from ‘maintenance management’ to leadership. And, check out my complimentary webinar on Jan. 30 on leadership, trends, and what you should do about it! See more at the end of this blog.
In my last post, we talked about the differences in management–specifically maintenance management–and leadership. Now, let’s look at the specific things leaders do to move offices ahead. After I list them, ask yourself, “Would I describe myself as a leader–or a manager?”
What Leaders Do
It’s easy to say you are a leader. But, how do you know you really are? Here are several actions leaders take. After all, we can’t judge people from what they say. We must judge them from what they do.
1. Leaders initiate new programs that move them closer to their vision.
2. Leaders enlist others prior to starting a new program, to assure the whole team has input, judgement, and ‘buy in’.
3. Leaders look at their planners, and evaluate whether they started something new that week or month. Did they start something that was innovative, creative, fun, and team-enlisting? Was it connected to their vision and goals?
4. Leaders do specific actions that solve problems. For example, in my new series, 365 Leadership, I will provide specific strategies, with all the guidance and documents to implement them–one strategy per month. One of these strategies is the Listing Presentation Play-offs. What problem does this solve? The problem of unskilled agents taking over-priced listings. It also changes the culture of the company from ‘we take anything’ to ‘we are professionals who act in the best interests of sellers’.
5. Leaders don’t rest on their laurels. They don’t believe they ever ‘have it made’.
Look at 365 Leadership to see the topics that we address. There’s still time to become a part of this group. I’m excited to provide 12 new, immediately doable strategies for you. It’s low-cost (both the series and the strategies) and it will move you into leadership and toward profitability.
What do you think the difference between management and leadership is? How do you know you’re a leader?
Complimentary Leadership/Management Webinar
Join me on Jan. 30, from 1-2 PM PST for Leverage the Top Trends for Profits in 2012. We will explore the top real estate business trends for 2012 and beyond–and I will provide you specific strategies to not only manage to those trends, but to thrive because of them. This is a complimentary webinar. Space is limited, so register today.
Jan. 30
Time: 1-2 PM PST
To register: https://www3.gotomeeting.com/register/306755846
Are you a Manager or a Leader?
Posted by: | CommentsThis January, I’m featuring the topic ‘leadership’. Why? Because it’s one of the biggest real estate industry trends (and probably world trends) of 2012 and beyond. Look for leadership strategies and trends (not just in the real estate industry), plus ready-to-use documents to go from ‘maintenance management’ to leadership. And, check out my complimentary webinar on Jan. 30 on leadership, trends, and what you should do about it! See more at the end of this blog.
Are you a manager or a leader?
In truth, if you’re managing day to day, you hopefully are both. Why? Because there are normal, repetitive things you need to do as a manager, and there are those bold, new, innovative steps you need to take to move your office forward. Here’s my quick definition of management:
Management: Managing the day-to-day tasks of a real estate office
Leadership: Creating the vision, values, and strategic ‘moves’ that move an organization from maintenance to vision-attainment
To further define the differences, let’s look at what I call ‘maintenace’ management:
Maintenance Management: Doing the day-to-day tasks that keep an organization operational; a tactical approach; a somewhat defensive approach
How do you know if you’re a maintenance manager or, if you’re doing some leadership actions?
It’s not easy. Everyone talks about leadership, but has trouble identifying leaders. In fact, one company owner I worked for has been called a ‘visionary leader’. From working closely with him for many years, I know him to be a very tactical thinker. There’s nothing wrong with tactical thinking, when it’s appropriate. But, without a strong vision, and the true leadership activities that relate to and move the organization to that vision, you’re just maintaining the stability of the company.
Why Visionary Leadership is Important
When I worked for this tactical owner, I could see he didn’t have a real core reason for what he was doing. He just copied other owners in his brain-storming group. So, we were constantly changing course, trying new things without logic, and wasting money and talent going down too many paths at once. In addition, we would start a new project seemingly every week, and none got defined, refined, measured, and retooled. It was very frustrating to see some good ideas not developed! To compound the errors, people let him to believe that all these disparate, poorly-developed tactics were effective (just feeding his ego.)
Does this ring some bells with you?
In my next blog, I’ll show you a contrast between the activities a maintenance manager does and what a leader does.
Exercise: Write down 3 ‘moves’ you made last year that were new to you, that took you out of your comfort zone and moved your company ahead. My question: Were these strategies related to fulfilling your vision, or, were they done just because you wanted to do them or heard someone else had success with them?
Complimentary Leadership/Management Webinar
Join me on Jan. 30, from 1-2 PM PST for Leverage the Top Trends for Profits in 2012. We will explore the top real estate business trends for 2012 and beyond–and I will provide you specific strategies to not only manage to those trends, but to thrive because of them. This is a complimentary webinar. Space is limited, so register today.
Jan. 30
Time: 1-2 PM PST
To register: https://www3.gotomeeting.com/register/306755846
The Changing Face of Real Estate Leadership
Posted by: | CommentsThis January, I’m featuring the topic ‘leadership’. Why? Because it’s one of the biggest real estate industry trends (and probably world trends) of 2012 and beyond. Look for leadership strategies and trends (not just in the real estate industry), plus ready-to-use documents to go from ‘maintenance management’ to leadership. And, check out my complimentary webinar on Jan. 30 on leadership, trends, and what you should do about it! See more at the end of this blog.
Check at the end of these blogs for those ready-to-use documents and checklists to put these ideas to work.
The guidelines of effective leadership have changed dramatically in the last thirty years. Top-down decision-making is out; participative leadership is in. Having no standards is out; standards-driven leadership is in. Everyone doing their own thing is out; mutual accountability and teamwork is in. Yet, as I look at real estate offices nationally, I see most leaders still leading as though it was 1970—or earlier.
In fact, a new book by Morris and Murray, Game Plan: How Real Estate Professionals Can Thrive in Uncertain Times, names Need for Leadership as one of the trends for 2012 and beyond. Get this book. You’ll find some trends predictable–but some are not.
Compare and contrast. Let’s look at four principles of effective leadership today. These principles have been proven effective again and again by huge companies internationally. They should be embraced by the real estate industry, which badly needs effective leadership in this challenging time:
- Vision-lead: Few companies have an articulated vision that’s shared by all in the company. Fewer yet have leaders who have the fortitude to ‘do the right thing’ (as stated in their vision), even if it means turning down a deal.
Example: When is the last time you saw a manager fire a top producer who acted unethically? How do managers treat customer complaints—especially if it’s against a top producer? (Ask agents if they feel managers unfairly favor the top producers. Boy, will you get an earful!) In too many cases, the ‘leader’ isn’t leading. The big loser long term: The company, because agents are de-motivated when they feel there is not a level playing field, and consumers will seek out new companies if they feel their complaints are not handled seriously. (read Built to Last: Successful Habits of Visionary Companies, Porras and Collins, for stunning examples of vision-integrated companies.)
- Everyone is involved in the decisions: This is participative leadership, and it’s the leadership style that is best suited to our real estate industry. After all, with independent contractors, we need strong organizational structures to pull people together. What percent of real estate companies have effective leadership councils, one of the attributes of participative leadership? In my teaching, I’ve found about 2%. What this means it that the vast majority of agents don’t feel it’s ‘their company’, they don’t feel empowered, and they aren’t very loyal. I will be writing blogs about participative leadership in January, so watch for them.
Leaders will be those who empower others. Empowering leadership means
bringing out the energy and capabilities people have and getting them to work
together in a way they wouldn’t do otherwise.
—Bill Gates, fellow Washingtonian, founder of Microsoft
As you read articles and books on leadership, you will find every successful company today has turned its hierarchical leadership upside down and/or flattened it to become inclusive, participative, and as some people term it– ‘spiderweb’. (read The Female Advantage, Sally Helgesen).
3. Standards-driven: During my presentation at a recent National Association of Realtors’ Convention, I asked attendees if they had productivity standards (minimum expectations) in their companies. Out of 200 attendees, three raised their hands. No wonder agents don’t believe they must be ‘on the team’, pulling their own weight in production.
In a recent study by The Ripple Effective of Negativity Leadership IQ, 87% of the 70,305 executives, managers, and employees interviewed said working with a slacker actually made them want to change jobs; 93% said it hampered their development or decreased their productivity. So, without standards, real estate leaders are de-motivating their good performers!
Here’s what Roy Disney says about effective leadership, from the New Leadership Paradigm:
Leadership is the ability to establish standards and manage a creative climate where people are self-motivated toward the mastery of long-term constructive goals in a participatory environment of mutual respect compatible with personal values.
4. Mutual accountability: Creating a participative environment suggests that everyone must be accountable to their goals. It’s just amazing that managers are frustrated by agents’ lack of business plans and accountability. Yet, as I coach managers, I find that many in each organization don’t feel they need to be accountable to their recruiting goals. (In fact, only about 2% have written recruiting plans!). In addition, owners have not hired and coached them to standards, so the managers just want to ‘leave that part out’!
What is the result of this leadership paradigm switch? A real team, a team with a common goal. Why is it in the real estate industry’s best interests to adapt to this participative leadership style? To preserve the industry, maintain commissions, add ‘pride in belonging’ back to the real estate company, and, most important of all, put the consumer first, where he belongs!
Do you have the attributes of a ‘change leader’? Click here.
In an earlier post, I talked about the 3 things change leaders do to impact the industry. See how you stack up here.
Complimentary Leadership/Management Webinar
Join me on Jan. 30, from 1-2 PM PST for Leverage the Top Trends for Profits in 2012. We will explore the top real estate business trends for 2012 and beyond–and I will provide you specific strategies to not only manage to those trends, but to thrive because of them. This is a complimentary webinar. Space is limited, so register today.
Jan. 30
Time: 1-2 PM PST
To register: https://www3.gotomeeting.com/register/306755846
Leading with these 4 ‘change leadership’ attributes assures a future, thriving business.
Are You a ‘Change’ Leader?
Posted by: | CommentsThis January, I’m featuring the topic ‘leadership’. Why? Because it’s one of the biggest real estate industry trends (and probably world trends) of 2012 and beyond. Look for leadership strategies and trends (not just in the real estate industry), plus ready-to-use documents to go from ‘maintenance management’ to leadership. And, check out my complimentary webinar on Jan. 30 on leadership, trends, and what you should do about it! See more at the end of this blog.
Check at the end of these blogs for those ready-to-use documents and checklists to put these ideas to work.
Leadership: It’s REALLY Big for 2012
According to authors Ian Morris and Steve Murray, leadership is one of the big trends of 2012 and beyond. In fact, to read their take on 10 big trends, grab Game Plan: How Real Estate Professionals Can Thrive in Uncertain Times . In fact, I think leadership is in such a crisis state (think companies, politics, families, etc.) that I created a 12-part subscription series for real estate owners, managers, and team builders. In 365 Leadership, I provide one new leadership strategy per month, with everything subscribers need to put that strategy right to work (low or no cost and workable for the 5 person or the 500 person office). I know how difficult it is to go from maintenance to leadership (and especially so, because the majority of managers and owners now also sell!). So, I want to make it as easy as possible to step into effective leadership.
Needed today: A Special Kind of Leader
I think we would all agree that leadership is desperately needed in the real estate industry. I read a book several years ago titled Sacred Cows Make the Best Burgers (I also highly recommend it). In it, authors Kriegel and Brandt show why people resist change, and the kind of leadership it takes to move people off dead-center into new actions. Isn’t that what’s needed in business today? Not ‘maintenance management’ but leadership. (I’ll write more about the differences in another blog). The authors introduced the concept of a ‘change leader’. So, what’s a ‘change leader’?
An individual who leads initiatives that influence others to perform differently–and better.
If you’re an owner or general manager, you need this ‘change manager’ in your organization. If you’re an agent, you’ll want to look for a ‘change leader’ to help you adjust to the rapidly changing real estate industry. How would you identify one? Find a leader who leads the way great leaders of businesses internationally today are leading.
Change Leader Attributes
Commitment to a better way
Personal initiative to go beyond defined boundaries
Stay undercover (stay close to the everyday business)
Sense of humor
Courage to challenge existing power bases
Motivate themselves and others
Care about how people are treated and enabled to perform
Change leaders believe in:
Tough standards of performance
Joint accountability
Democratic principles to tap creative power
Even though the real estate industry cries for ingenuity and creativity, compared to other businesses, it has been slow to change the way it does business. Allowing ‘change leaders’ to come forward and thrive is vital for the very existence of our industry–and, of course, vital for a bright future.
In my next blogs, I’ll be talking about how to implement these attributes of change leadership.
Do you have the attributes and actions of a ‘change leader’? Take the questionnaire I created for you. Click here.
Complimentary Leadership/Management Webinar
join me on Jan. 30, from 1-2 PM PST for Leverage the Top Trends for Profits in 2012. We will explore the top real estate business trends for 2012 and beyond–and I will provide you specific strategies to not only manage to those trends, but to thrive because of them. This is a complimentary webinar. Space is limited, so register today.
Jan. 30
Time: 1-2 PM PST
To register: https://www3.gotomeeting.com/register/306755846
Do You Have a Job Description for your Agents?
Posted by: | Comments 
Do you have a job description for your agents? Most agents tell me they did not receive a job description when they started in the business (or in the interview). If not, why not? In my last blog, I discussed the fallacy that agents should start out as ‘independent’ business people. Now, I don’t mean they shouldn’t take responsibility for their actions and success. I mean that we shouldn’t abdicate our responsibility to teach, train, and coach them so they become great salespeople (so they can become independnet). Besides not having skills they need to succeed, they usually don’t even know what the job is!
Poor Job Descriptions Abound
As I teach management courses nationally, and speak nationally, I see many examples of poorly thought-out job descriptions and activity plans. What do you think is a poor job description? Take a look here. 
( a preview is to the right).
Why do you think I regard it as a poor job description? It’s not:
Prioritized
Some of the activities don’t result in success
My conclusion: This job description was written by an academic who had never been successful in real estate!
Abdicating our Leadership Responsibilities
Part of that abdication of management responsibility, I believe, is not providing a prioritized job description to your agents. Notice I said ‘prioritized’. Which activities should the agent start with? Which are important to be successful? Which are less important?
Before I share my job description with you, please write the job description you believe is the one you expect agents to follow.
When do you share that job description? In the interview? I hope so.
My Prioritized Job Description
Now, take a look at the prioritized job description I developed as a foundation for the new agent’s start-up plan, Up and Running in 30 Days. How does yours differ? What does your job description say about what you think is important? Are you gaining as much success for your new agents as you should? What does your job description and start-up plan have to do with those results?
For a printable copy, click here.
Get that job description refined. Talk to some of your agents to assure it’s the job description that reflects how you hire, train, and retain. Start using it in your interviews. Now, you’re getting much more effective and efficient.
If you’re a busy owner or manager, you’re probably wondering how you possibly implement the leadership you know it takes today to move your company forward. I’ve got the answer. Once a month, I’ll share a new leadership strategy–a strategy you can instantly implement in your company to motivate, energize, and help your agents be more productive (plus, these are great recruiting tools). Take a look at 365 Leadership.
For just $39.95 per month, you’ll get that strategy/action plan, an instructional webinar, a coaching tele-conference call, and all the ready-to-use documents you need to make that strategy a reality. Our new session starts in January, 2012. Don’t worry: You can join through March and get any sessions you may have missed. And, you will have access to all the completed sessions any time you want to view or review them. Check out 365 Leadership today. Let me share with you the specific, creative strategies I used to rebuild 2 real estate offices into exceptional profits.
Is the Real Estate Business an ‘Independent’ or Dependent Business?
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Perhaps you went into real estate because you wanted to be independent. You wanted to be your own boss–name your own hours–work at your own speed. You’re probably hiring agents right now with the same reasons for going into real estate. Not so fast! Even though real estate is considered to be a career where ‘you’re in business for yourself”, taking that thought too far can result in failure: Failure for both you as a manager and your agents.
Why? Because there are many skills required in this business that people new to it just don’t have. Yet, we help them believe that all they have to do is to start in this business and go to our training. They will be successful. Then, when they start failing, they can’t figure out why. In this blog I’ll name 3 qualities and skills your agents need to develop fast. My question to you is: How are you going to help them develop them?
Skill # 1; Time management
Most people go into real estate from a field that required them to show up on time, do specific work, and work for at least eight hours. If they didn’t fulfil the minimum requirements of the job, they were fired. Understandably, many people don’t like to work under those strictures. So, they go into real estate where they can name their own hours, work at their own speed, etc. etc. The problem is, with many, that they don’t understand that working at their own speed many be working at a failure speed.
My question: What program do you have to teach them time management skills, monitor their development, and hold them accountable to a good schedule?
Skill # 2; Being accountable to a plan
When I was regional director for a very large international franchise company, I found, as I screened them, most potential owners and managers had never had anyone hold them accountable. In fact, there was a negative feeling about being held accountable. When you have a ‘boss’, you are accountable to that work plan and to your boss. In real estate, we’re so careful not to step over the boundaries of the independent contractor concept, we rarely hold anyone accountable to anything. The result: Most people never know what the job really is, and whether they are on track to attain their goals.
My question to you is: How are you going to help someone be accountable for their own success and be willing to be coached?
Skill #3: Implement a plan of action.
It is just amazing to me the kablooey plans of action out there. In another blog, I’ll show you why most of them lead to an agent’s failure. Most of the time, in fact, an agent isn’t provided a plan of action. He/she is just told suggestions or 50 ways to do something. The result: The agent has no idea how to prioritize activities and proceed. He has no idea whether what he is doing every day actually is leading him toward a goal.
My question to you is: Do you provide a prioritized plan of action, introduced in the interview, and use that plan of action to coach your agent in executing a successful real estate business?
So, after I’ve given you 3 skills agents need to succeed, what do you think? Is real estate an ‘independent’ or dependent business? I believe it needs to be a ‘dependent’ business at the beginning. That is, I coach the new agent as he/she starts his/her business. I am the leader. The new agent is the follower (or the struggling agent). There is the dependence. Once the agent ‘has it’, I step back, and become more of a consultant.
If you haven’t read the great book, Outliers, get it and read it now. One of the great lessons in the book is that no one succeeds alone. In later blogs, we’ll talk about the ‘community’ it takes to help someone be successful today.
Give me your feedback on the ‘independent’ or ‘dependent’ concept. What do you think?
Why not let me support you with your agents? Take a look at my blog for agents, Up and Running in 30 Days. I’ll motivate them, inform them, and support your point of view. Sign them up today.
If you’re a busy owner or manager, you’re probably wondering how you possibly implement the leadership you know it takes today to move your company forward. I’ve got the answer. Once a month, I’ll share a new leadership strategy–a strategy you can instantly implement in your company to motivate, energize, and help your agents be more productive (plus, these are great recruiting tools). Take a look at 365 Leadership.
For just $39.95 per month, you’ll get that strategy/action plan, an instructional webinar, a coaching tele-conference call, and all the ready-to-use documents you need to make that strategy a reality. Our new session starts in January, 2012. Don’t worry: You can join through March and get any sessions you may have missed. And, you will have access to all the completed sessions any time you want to view or review them. Check out 365 Leadership today. Let me share with you the specific, creative strategies I used to rebuild 2 real estate offices into exceptional profits.
Three Strategies to Get Your Agents to Create Business Plans
Posted by: | CommentsIn November and December, I’m focusing on business planning, to help you and your agents get a great business plan for next year. Look for checklists, processes, and systems ready to use, too.
I know it’s a lot of work to get your agents to commit to paper on anything. And, from working with thousands of agents on business planning over the years, I know the challenges. But, for us managers, the huge pay-off comes not from what’s on paper, what, what’s in the head. When we use a good business planning process we literally teach agents how to think through their businesses.
Three Huge Stealth Strategies
1. Take Away Commitment Phobia
It’s estimated we are told ‘no’ 148,000 times prior to age eighteen. No wonder we don’t want to commit to try anything! I know from teaching adults to play the piano, that adults are conditioned not to try anything new for fear of not being perfect. To many, writing a business plan means planning to fail—and then getting punished for it.
So, the first time you introduce business planning, take away the old downside of goal setting (not reaching it and getting punished), and help your agents move in incremental steps forward—a step at a time, with lots of positive reinforcement along the way. You have to create a safe haven for first-time planners.
2. Eat the Elephant a Bite at a Time
One of the agents in an office where I just did a small group coaching series told me he put a picture of an elephant on the wall, and then literally divided the elephant into bite-sized pieces, with an action step listed on each bite. What a wonderful visual! For many of your agents, planning is just the most overwhelming process they could envision. So, simply start with one or two areas. Personally, I start with 2-3 areas in the Review. See my next blog for an example of this.
3. Make it Really Easy to Start
Have a great business planning system to provide your agents. (Never just ask them to make a business plan without a system to follow, because you’ll get all kinds of formats). Don’t overwhelm your agents with too many planning pages to start. Customize your package with each agent. If you can get each agent to look at 1-3 areas of his business, and plan change strategies for a better year in that area, you’ll have started the process—a process that will continue, grow, and reap big benefits by year three.
We Do What We See, Not What We are Told
Do you have a business plan? If not, why should your agents be interested ? Making your ‘stealth’ approach work means you must lead by example. Doing so creates a synergy between your plan and all the agents’ plans, and builds a strength that perseveres even in the toughest market.
What should be in an agent’s business planning system? Click here to see a ‘flow chart’.
Complimentary Webinar for Managers
If you’re stumped as to how to get your agents to create business plans, you need to attend this webinar. If you want more teamwork and loyalty, you need to tune in. I’ll show you how I got 100% of my agents to write good business plans, and how I used those plans to coach and consult all year, building my office to #1 in a 19 office company–the strongest company at that time in the Northwest.
Managers: Get Every Agent to Build a Business Plan–and Build a Great office Plan
When: Dec. 1
Time: 1-2 PM, Pacific Standard Time
Space is limited, so register now. Click here to register.
Are You Making These 5 Planning Mistakes?
Posted by: | CommentsDuring November and December, I’m writing business planning blogs to help you create great plans with your agents. Check these blogs, too, for checklists, processes, and systems ready to use. For your agents: Check out Up and Running in 30 Days, my blog for your associates.
As you make your business plan, avoid the common mistakes that many real estate professionals make. Here they are:
MISTAKE #1
Betting on a business plan that’s only about 1/4 of a plan. Many of us write down our goals. Yet, that’s not a business plan. That’s just one part of the business plan. There are six parts to a real business plan:
a. Your vision-what do you have as an “end in mind”?
b. Your review-what happened last year?
c. Your mission-what are you about?
d. Your goals-expressed in the best terms for profitability today
e. Your action plan in each of 6 areas.
f. A method to measure your results.
Which parts do you include? What would your outcomes be if you thought through your business, covering all the bases?
Click here to see the ‘flow chart’ of a manager’s business planning system (excerpted from The Business Planning System for the Owner, Manager, and Team Builder).
MISTAKE #2
Ignoring the importance of ‘revenue units’ (sales and listings sold). Unfortunately, when we write our goals, we like to use those great million dollar numbers and measurements like market share. Yet, setting goals for revenue units assures that you keep your eye “on the ball”-homes sold, which make you money. There’s another huge benefit to focusing on revenue units: You can then integrate your agents’ plans with your office plan.
MISTAKE #3
Not doing a thorough review (or not doing a review at all). Looking back on your last year is so important, because it gives you the “hints” you need to write your best action plan for the next year. I think it also solves the problem of the manager trying to figure out what to do next.
For example: It’s amazing that brokers don’t know one of their most important numbers for profitability: percent of listings taken to listings sold. You may be wasting many dollars in marketing homes that won’t sell-no matter what you do. Also, your agents become unmotivated and depressed when their listings don’t sell. Knowing this ratio gives you direction for your training and coaching for the coming year. Create a higher ratio and you’ll be able to use it to recruit, too.
MISTAKE #4
Writing the plan ‘in a vacuum.’ Almost always, brokers sit down to torture themselves by writing a business plan in a room with the doors shut and no windows. But, they don’t know yet what their agents want to accomplish for the next year. The right way to plan is this: First, help each of your agents create a business plan. The sum of your agents’ goals should form the foundation for your goals. After all, your agents’ efforts should be reflected in your revenue unit goals, shouldn’t they? Yet, very few brokers even help their agents write business plans. So, they can’t really get good projections of what they think their agents will produce in the next year.
If you do assist your agents in their planning processes, you will have a much better foundation for a realistic business plan of your own. (That also means you should be consulting your agents on their business plans in November, so you’ll have all their plans together as you start creating your office plan).
MISTAKE #5
Not creating specific action plans in each of the action plan areas. Michael Gerber, a spectacular “guru” for small businesses, says “the integration of your systems is your business plan.”
In other words, if you have a real business plan, I should be able to read it, come into your office on any day, and see how you’re carrying out your business plan in recruiting, selecting, training, coaching, and marketing. You would be able to delegate many of your duties, too, because you had specific action plans for each of these areas. You would be able to measure your progress at any given point. Further, if you have created action plans that are systems, someone would be willing to buy your company from you, giving you a very attractive price! (That’s what Gerber terms “franchising.”)
Get Ahead of the Curve
If you don’t have a business plan, there’s still time to get one done. Just by thinking through your business, you’ll be ahead of 95% of your competing brokers! If you want to make more money, gain time, delegate more to others, open another office, or create an office that’s saleable, it all starts with thinking through your business, getting it down on paper, and attaching systems to each of your action plan areas. Now, you’ve got something you can run, you can delegate, and you can sell.
FREE Managers’ Business Planning Webinar
If you’re stumped as to how to get your agents to create business plans, you need to attend this webinar. If you want more teamwork and loyalty, you need to tune in. I’ll show you how I got 100% of my agents to write good business plans, and how I used those plans to coach and consult all year, building my office to #1 in a 19 office company–the strongest company at that time in the Northwest.
Complimentary Webinar
Managers: Get Every Agent to Build a Business Plan–and Build a Great office Plan
When: Dec. 1
Time: 1-2 PM, Pacific Standard Time
Space is limited, so register now. Click here to register.
Free webinar for your agents: I’ve got a free webinar, too, for your agents: On Nov. 29, I’ll show your agents how to create a great plan, and how to put the three major trends of next year into their plans. Register your agents now. Space is limited.
What’s your ‘bottom line’ for an ideal start-up plan for a new agent? Many managers tell me they don’t want to hire new agents because they’re too much work–and, too many of them fail. True. Yet, on the other hand, managers find it difficult to recruit seasoned agents who fit their profile, culture, and standards. One answer to this dilemma is to develop a start-up program for new agents that avoids the pitfalls associated with hiring new agents.
The Ideal Porgram Should Assure…
1. The new agent will succeed–fast (not this normal 50% failure rate!)
2. The new agent is directed by the start-up program–not a situation where the manager has to re-invent the wheel with every new agent
3. The manager doesn’t have to invest hundreds of hours in a new agent–only to find that agent fails
4. There’s direction from a ‘trusted advisor’–an outside coach, to save the manager’s time
5. There’s coordination and interaction between the ‘trusted advisor coach’ and the manager, so the manager isn’t left out of the loop
6. The new agent is challenged by meaningful activities leading to a sale, not just unprioritized busy work
What other goals should your ideal program provide you?
Re-Inventing My Start-Up Plan
I’m doing the fourth edition of my best-selling start-up plan for new agents, Up and Running in 30 Days. I want to assure that it fulfills all the goals above–and the goals you have for me. Here are some methods I am using to ‘take the load off’ managers, and still assure the program is effective:
1. I’ll be doing short instructional and motivational videos to teach the agents the best planning strategies AND motivate them. This saves managers so much time, because they won’t have to teach the program. I will.
2. I’ll be providing Internet-based forms that the agent will complete, (both in business-producing and busienss-supporting work), and those forms will always be available to the manager. These forms will tell the agent, too, how he’s doing in comparison with the standards and goals of the program. In other words, using programmed ‘feedback’ on progress, I’ll help the agent stay on track and congratulate him/her on accomplishments.
3. I’ll provide guidance to the manager on how to coach the agent during the good and the rough times, with short videos and forms provided.
What else would you like to see as I update the program?
Thank you for making this program the best-known and most successful program internationally to start new agents on the path to success.
P. S. This program is not meant to be a full-blown training program. It is a business start-up plan–meant to be an immediate start to the business, so the agent doesn’t have ‘down time’ between his hiring/orientation and training. Just think of what the agent could accomplish if he started lead generating on purpose in his week 2, rather than waiting until after that formal training program (about 4-6 weeks!)…….
Managers: What’s Your Ideal Training for New Agents?
Posted by: | CommentsManagers: What’s your ideal training–get started NOW program for new agents? What do you want your new agents to be able to do by the end of their first month in the business? How competent do you want them to be?
I’m working on the fourth edition of Up and Running in 30 Days, the new agent’s start-up plan. The program is designed to get an agent a sale in 30 days. It has a bit of training in it, so the agent gets the ‘how’ along with the ‘what’. In addition to that book, I’ll be doing a ‘version’ of it that will be very interactive, with me as coach. So, I want to know from you, both manages and agents, what you’d like to see in your ideal program for the new agent?
Here are questions I’d love to get feedback on so I can create the program that would work best for you:
1. What’s the major concern you have right now about the program you’re using?
2. Is the program you’re using designed to get the agent a sale in 30 days? If not, what is it designed to do?
3. What’s the best thing about your present training/coaching program?
4. What would you like to see in a start-up/training and coaching program for the new agent?
5. For agents under a year in the business (if you’re reading this as a manager, please ask your agents this question): What do you wish would have been in your training program? How could it have helped you get a sale sooner?
6. Coaching: What do you want that enables you to coach to the agent’s success better?
Please let me know by commenting on this blog. I want to make this program stunningly successful for both new agents and managers.
In my next blog, I’ll tell you some of my ideas about how I can ‘take the load off’ managers, and provide much of the coaching and accountability myself in this new version of this very successful program. Thanks in advance for your comments!\