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Archive for Profitability

Why not assure more of your new agents are successful fast?

This month is ‘training’ month. So, I’m writing blogs to help you train your agents to more production. In this blog, we’ll focus on your would-be agents–you know, the ones you’re interviewing right now.

Why Not Put Them to Work While They’re in Pre-License School?

Why aren’t your agents getting prepared to sell real estate while they are in pre-license school? Okay. I know. Until they are licensed, they can’t do the things licensed agents can do. But, they can do many things. And all those things get them ready to hit the ground running. At the end of this blog, I’m providing you my great checklist, 30 Things to Do Right (In Pre-License School) Now to Hit the Ground Running.

What The RE Schools Say about Preparing Agents to Sell Real Estate

Dearborn Real Estate Publishing has published my books for a long time. They work with real estate schools, and publish many books to help pre-license students pass the licensing tests. They just started doing a survey with real estate schools. The 2018-19 survey just came out.

You know that from hiring these people! In fact, I think we managers and new agents would say that pre-license courses do little to prepare people to sell real estate. And, in truth, that’s not the job the Departments of Licensing expect them to do.

We Lose Lots of Time Because They are Not Prepared to Start the Business

You know the drill. We hire that new agent. We spend the first 1-2 weeks with them getting the ‘orientated’. We have checklists to assure they get their keys, join the Realtor association, etc., etc., etc. How long do you estimate it takes the new agent just to get those orientation checklists finished? 2-4 weeks? In some cases, they never finish them!!!!! Not only that, they probably think that finishing those checklists assures they are going to be successful agents. Ha!

When Do Your New Agents Start Lead Generating?

My studies show that new agents want to make a sale their first month in the business. But, when do you think they start lead generating? Do you know? I believe they put off the inevitable as long as possible, hoping ‘there’s another way!’ In fact, the more ‘get ready to get ready’ work you have them doing as licensees, the worse their habits become and the less money they make!

A Different Method to Get Them a Check Fast

Instead of waiting until they are licensed, why not get them prepared to sell real estate while they are in pre-license school? They can do things like

  • Decide on the database/CRM they want to use and learn how to use it
  • Populate their databases with 100-300 potential clients
  • Prepare an email/hard copy note/letter to all those in their database saying they’ve joined_____________ real estate company

30 Things to Do While in Pre-License School

In fact, as I was writing my new eBook, What They Don’t Teach You in Pre-License School, I started thinking about how we could really prepare agents to sell real estate–lots of real estate. That’s how I came up with this checklist. Click here to get it.

How to Recruit with the Checklist

Here are a few suggestions:

  • Offer this checklist to all your new licensee candidates
  • Offer this checklist for your Career Nights
  • Offer this checklist in your ads (newspaper, Craig’s List, Facebook, etc.)

I’m Taking It a Step Further

In the next few weeks, I’ll be launching a pilot program to train would-be agents in the basics and get them ready to sell real estate. I’ll be telling you more about it soon. Wouldn’t it be great if you could hire someone you were 90% sure would be successful selling real estate–and was prepared to work to do so?

Save Time! Give Those Interviewees the ‘Scoop’ Here

Would-be agents have a million questions (!) and can take many hours of your time. Instead of answering over and over, give them this eBook and you’ll be able to get to an in-depth interview faster–and discover the talented ones, too! Check out What They Don’t Teach You in Pre-License School, now in its 2nd edition. Save time and hire great ones!

head in the sand a salespersonDropping 1979 practices: Get into today’s and tomorrow’s real estate world!

This blog series is taken from an article I just wrote on the history and future for real estate. But, it’s not just a look from afar. It’s an actual history of how we agents operated and how companies encouraged how we practiced real estate. But, as real estate has changed, have agents (and companies) changed their approach to real estate sales? Here’s the second blog entry.

Get to Know and Stay In Contact with Former Clients?A� Why?

As you can see from my descriptions so far of how real estate was practiced when I started in the 70’s , the emphasis was not on client satisfaction. A�No one taught us to interview buyers prior to hauling them around to see homes (yes, we called it a�?haulsa��) or form relationships with them! No one trained us to interview sellers for needs before we a�?solda�� the seller on our services (and we basically sold company features and benefits, not what an individual agent would do for the client). No one taught us that it was important or that we were to keep clients over time. In fact, it seemed to be a a�?nexta�� business (find a new buyer or seller). The company took the responsibility to keep track of the clients.(And, of course, the companya��s attitude was that they a�?owneda�� the client).

Time warp check: Do you know agents who still dona��t start client relationships with and in-depth interview process, so the client needs are discovered and met?A�

Because the company was spending money on advertising, the agents assumed clients would remember the agent and perhaps come back of their own accord.

Problem: The clients remembered the company but didna��t remember the agent! Agents seemed interchangeable (and you know theya��re not!).

Time warp check: Do you know agents who still dona��t keep in close contact with their best source of businessa��those they just a�?solda��?

Dependent on the Company for Successa��or our Own Efforts?

Stephen Covey, in his wonderful book, The 7 Habits of Highly Successful People, relates three phases of a persona��s growth: Dependent, Independent, and Interdependent. As kids, wea��re certainly reliant on our parents for everythinga��wea��re dependent. Then, as teen-agers, we get to drive, and, voilaa��.we become (or like to think we become) independent (and we think we know it all). Finally, as we mature, we find that going it alone is tougher than teaming with othersa��that we actually dona��t know everythinga��and that othersa�� support, love, and consideration are supremely important to human beings. The same can be said of the evolution of companiesa��and, in fact, real estate companies.

The Dependent Company was Dominant

Above, Ia��ve described my early experience in a company as a�?dependenta��. We relied on the company to create the brand, create the business, schedule our time, take care of the business side of things, and even track and re-communicate with the client.

Time warp check: Do you know agents that still operate without a business plan or a budget, relying on the company plan to suffice?

In the next blog, I’ll discuss the continuing evolution of real estate. And, I’ll relate to how many agents are still practicing–not stepping up their business to compete now. And, unwittingly, companies are encouraging these old practices through their branding and practices.

Plan_Act_CelebrateOne More Opportunity to Get My Business Planning Resources at Deep Discounts

Thought you’d get it done but it’s still on your ‘to do’ list? I want to help! So, I’ve extended my discounts on my online business planning resources through Jan. 31.

Managers: Frustrated because you can’t get your agents to plan? Problems solved! I’ve put my exclusive planning pages online–plus webinars to help you get through that plan fast. Don’t wait another year for business success. See moreA�here.

Special discounts through Jan. 31: Purchase the agent’s planning resource,A�Beyond the Basics of Business PlanningA�for agents, A�and save $20 (regularly $99). Use coupon codeA�agent bus plan.

Managers: I’ll teach your agents how to plan, too! Included in your Manager’s Package!

Purchase the manager’s planning resource,A�Beyond the Basics of Business Planning for Managers, A�with all office/company planning documents and save $50. Use coupon codeA�manager bus plan.

Offer ends Jan. 31: Big discounts on these programs–use the coupon codes below to order.

Ready to order? Click below:

Beyond the Basics of Business planning for ManagersA�– regularly $249, now $199 with coupon code managerA�bus planA�

Beyond the Basics of Business Planning for AgentsA�A�–regularly $99, now $79 with coupon codeA�agent bus plan

Remember, this special offer expires Jan. 31, so, order now and get your business plan ready for 2018.

PS: I’ve got dozens of ideas on how you can refine your systems for tomorrow’s real estate practices–not yesterday’s….

bus plan 7 team

Is your business plan missing the vision component?A�Below is an explanation of why having a vision is so important to the success of your business plan. In fact, I believe the lack of vision in a plan leads to a demotivating and certainly uninspiring plan.

For you managers: I think helping your agents create an inspiring and motivating plan will remove their reticence at doing a plan.

Why Vision is Important

A few years ago, business professors, Jim Collins and Jerry Porras, studied very successful companies to find out the differences between a�?stunninga�� (high profits and highly regarded), and other like companies who were almost as profitable, but not so successful). They published the results in the best business book Ia��ve ever read,A�Built to Last: Successful Habits of Visionary Companies.

What did they find was the common difference between the highly profitable and merely very successful?

A common vision and values shared by every person in the company.A�

Porras and Collins’ conclusion was that the desire for profits isna��t the main driver for profits. The focused and tenacious vision, shared by all in the company, was the biggest determinant for profits.A�

Components of VisionA�

Your vision is made up of yourA�core ideologyA�and yourA�envisioned future.A�A�

As you can see from the chart on the right, excerpted from myA�online business planning resource, Beyond the Basics of Business Planning,A�yourA�core ideologyA�is made up of your core values and core purpose. If you look at your life, youa��ll see that the things that inspire and motivate you are the things that adhere to your belief system. Thata��s what this part of the vision statement says about you.

Your envisioned futureA�is made from a vivid description of this future, and BHAGsa��big hairy, audacious goals. Those are goals five years out, that you really dona��t think you can attain.

The Power of BHAGs

Surprisingly, as Porras and Collins found, when companies stated these goals, they actually attained them in three years! (Inspirational goals that are congruent with your core values and core ideology are powerful motivators!).

What Vision Does for Companies

Herea��s Porras and Collinsa��s function of a vision statement:

Provides guidance about what core to preserve and what future to progress toward.A� Made up of core ideology and envisioned future.

Here’s an example of a vision of one of the book’s stand-out companies:

Our basic principles have endured intact since our founders conceived them.A� We distinguish between core values and practices; the core values dona��t change, but the practices might.A� Wea��ve also remained clear that profit a�� as important as it is a�� is not why the Hewlett-Packard Company exists; it exists for more fundamental reasons.a�?

A� A� A� John Young, former CEO, Hewlett-Packard

A�How to Construct your Vision

How do you want to see yourself in this business? How do you want people to talk about you and your business after you retire? What values are most important to you? What ideology do you follow in your business?

Managersa�� exercise.A�A�To figure out what your core values are, imagine that you are opening an office on Mars. You can only take three agents with you on your spaceship. Name those three agents. What are the core values of these agents? Who in your office doesn’t exhibit those values? Why is he/she still with you?

Looking back:A�Imagine you are at your own memorial, watching from above. What are others saying about you? Whata��s most memorable about you?

Voicing those BHAGs

What is a great goal you would love to accomplish in your business, but really dona��t feel ita��s possible for you within five years? Write it right now.

Note: In the complimentary business planning webinar, we’ll be exploring vision and agents will actually write some BHAGS!

Why We Dona��t Reach Those Lofty Goals

Is that goal thata��s been eluding you congruent with your core values? What I mean by that is, does that goal feel comfortable to you? For instance, if that goal is that youa��ll make two million dollars, and you dona��t like the feeling of that much money, because your values are aligned differently, you just arena��t going to reach that goal. That, I believe is the reason many of us dona��t reach some of our goals. Those goals arena��t in alignment with our core values.

Herea��s what great motivational speaker Zig Ziglar said about goal-value alignment:

You cana��t consistently perform in a manner that is inconsistent with the way you see yourself.

Finding your Alive, Powerful Motivation

In my business planning system, I also provide another method to check your motivation.

Click hereA�to get this document.

Ia��m convinced that we reach or dona��t reach our goals based on the intensity of our desire, driven not by cold numbers, but by the warm emotion of aligned values and inspiring goals. Yogi Berra said it well:

Life is like baseball; ita��s 95% mental and the other half is physical.

Plan_Act_Celebrate

bus plan 3

Note: Through November and December, I’m going to help you and your agents with your 2018 business plans. You’ll find free documents from my online business planning system for agents and ownersA�and an invitation to a complimentary webinar. Why not subscribe to my blogs and be sure not to miss a thing?

Yes, I know. Wea��re supposed to have our business plans all done and ready to goA�priorA�to the New Year. But, in addition, how do we make them realistic? How do we make them action road maps?

Note: Check out my free business planning webinar (see below) AND grab the free handout–my flowchart of the owner/manager planning process.

Four Steps to Integrate Your Plan with your Agents’ Plans

Have you thought about how your agent plans impact your office plan? Unfortunately, most planning systems treat these plans as separate. Actually, they need to be integrated. Why? Because the total of the agents’ plans goals are YOUR goals too!

Take these four steps to get that business plan finished and implemented with real action steps byA�January first.

  1. Meet with each of your agents and assure each has a plan.
  2. Capture the goals of each of your agents: listings, listings sold, and sales. Now, add a dash of realism. Ask yourself, a�?Based on what the agent accomplished last year, are his/her goals realistic for this year?a�? Then, make any adjustments you think need to be made.
  3. Add your agentsa�� adjusted goals in each of the three areas. Those sums are your office business plan objectives. Why? Because your agents are the ones who actually create the listings, listings sold, and sales.
  4. Decide, in each of the action areas below, the actions you will take to assure you reach the office goals, which are a summary of your agentsa�� goals.

The Six Action AreasBusiness Planning for the Owner overview

Create action plans in these six areas. Using these divisions, youa��ll assure that you cover all the bases.

  1. Recruiting and selection
  2. New agent productivity through training and coaching
  3. Higher production/retention for your experienced agents
  4. Marketing: Internal/external
  5. Personal/professional development
  6. Operations: financial planning/staff

For a flow chart of the leadership business plan in this blog, including these six action areas, excerpted fromA�Beyond the Basics of Business Planning,A�click here.

Plan_Act_CelebrateMore from Carla Cross on Business Planninga��free Webinar

Listen/look at the free webinarA�I’m doing Nov. 29 or Dec. 6 (you pick the best date for you and invite all your agents!). Click here for more information and registration.

do itHere’s the easiest, least expensive, and effective thing your agents can do to get business.

Having hired and trained probably hundreds of new agents, I know the myriad of questions they have. So, here’s the simplest, yet most effective thing you can teach your new agents (and your experienced agents) to do.

Herea��s the answer to the question, a�?What is the one thing I should do to get business?a�? Yes, people are always asking me that. I think ita��s because Ia��ve written two resources for would-be and new agents: What They Don’t Teach You in Pre-License SchoolA� and Up and Running in 30 Days . By the way, Up and Running was just published in its 5th edition!

Now, we know that becoming a skilled real estate agent isna��t just one answer. But, there is one thing new agents can do that requires

No skill

No experience

No money

Little time

And, this one thing will make you stand out from the crowd better than any other one thing you could do! What is it? Simply:

Write a thank you note (a real hard copy note, not an email)

Why?

Because manners and a�?thank yousa�� have gotten increasingly uncommon! You will stand out simply because youa��ve taken the time, thought about that person, and cared enough to writea��and put that stamp on it.

Write More Than One Note

Ia��m not going to tell your new agents to write a certain number of notes per day. You and your agents can set your standard (that means the minimum youa��ll do).

What to Say

Thank you. Thinking about you. I appreciate you. I used your advice. Herea��s something for you that would be helpful. I found the information you wanted.

Note to managers: This is also one of the strongest motivational tools you’ll ever have–writing notes to your agents with encouragement, thanks, etc. Do you do enough of it? Set your own goals now.

Big important sales principle:

Contacting people is simply finding an excuse to write, pick up the phone, or go see. Retaining salespeople is similar!

My challenge: How creative can you get?

Your agents are more creative than they think they are. Now, get them to sit down and think hard about 5 people they’ve started to work with, but need to contact now. What about them fits into any scenario for you to write that note, pick up the phone, or go see?

They are now using a�?advanceda�� sales techniques, and they already know how to do all of this.

Sales meeting tip: One of the managers I know actually has agents write these notes during a sales meeting, and brainstorms the reasons one could write a note.

Proof is in the Pudding

My first year in real estate, I sold 40 homes. Also, I sent more things in the mail than any other of the 30 agents in my office. Why? Because I wanted to create a a�?critical massa�� of people who thought I was wonderful. Yes, an agent can also do this with social media. But, you want to stand out. And, you will stand out much more if you write to one person than to many. After all, you are working with that one person who will pay you thousands of dollars. He/she is worth that special, individual effort! That’s the one thing your agentsA� should do to get business.

Managers: How are you making this simple tip work for you and your agents?

Up and Running_5e largerHelp Your Agents Get a Sale Much Faster!

Why not provide your agents a proven business start-up plan, along with hundreds of success tips? Check out the new 5th edition of Up and Running in 30 Days.

audience sleepingAre you getting the biggest ‘bang’ for your training buck?

Are you frustrated because your training isn’t getting results? Or, people just aren’t showing up? Or, worse yet, falling asleep in that factoid-heavy class?

Maybe you have a specific problem you’ve noticed when you read your latest profit and loss statement. For instance: Perhaps your agents are giving too many commission concessions.

If you’re experiencing any of these challenges, you’ll love the tool here. I’m providing an insightful analytical tool to discover what’s right–and wrong–with your training.

Three main reasons your training isn’t working:

1. It isn’t tied to the problems you want to solve in your office (agents not productive enough, commissions too low, etc.)
2. It doesn’t teach your agents to perform better–just gives information
3. It isn’t exciting enough–teacher just drones on and on…..

As I work with owners, managers and trainers internationally, I see these same three problems crop up over and over.

Click here to get your analytical tool — along with tips to correct your training to make it pay off.

Affiliates: Share this with the managers/trainers in the offices you call on. Use these tips, too, to streamline the training you provide.

coachingWant Help in Improving your Training?

Why not get some assistance in refining your training, creating or improving your training calendars, and energizing your courses with refreshing and effective training methods? Carla Cross has helped the major franchises internationally do just that, and she will help you, too.

Customized coaching to:

  • Improve training, training calendars and resultsA�
  • Insert more exciting training methods into courses to improve attendance
  • Create methods to assure better training results
  • Contact Carla to find out how she can help you get better results from your training. Each coaching series is customized to meet your needs and get the results you want.

These series range from 2 sessions to 6, depending on your needs. Carla will work with you one-on-one or with your group of trainers.

do itHow good is your agents’ start-up plan? (Or, do they have a start-up plan?!)

This month, I’m featuring excerpts from my new 5th edition of Up and Running in 30 Days.

{Click here to see the updates in my fifth edition of Up and Running in 30 Days.}

You know what your training will do for you. So I hope you are convinced you also need to implement a business start-up plan to put all that information in perspective. But watch outa��there are more poor ones than good ones out there. As a CRB (Certified Real Estate Broker) instructor for 12 years, I taught thousands of owners and managers nationally. I saw plenty of poor plans managers shared with me. (These were the plans they were giving their agents, too.)

Commonalities of Poor Plans

  • They are laundry lists of busywork activities interspersed with activities that actually make you money, so the agent doesna��t get any evaluative perspective to self-manage.
  • They do not prioritize lead-generating activities, so the agent thinks all types of lead generation have equal payoffs.
  • They do not have methods of setting goals, keeping track of results, and analyzing results to make changes quickly. (Up and Running provides sales ratios so you learn how many specific actions it takes to get the results you want.)
  • They do incorrectly prioritize actions. For example, as a high priority, they direct the new agent to a�?see all the inventorya�? before doing anything else. The rationale is that ita��s very important to see all the inventory to build a knowledge base. It is important, but only as it relates to working with buyers and sellers. (Ita��s the means, not the end.) But new agents dona��t want to do the high-rejection, high-risk activities such as talking to people. So they gladly see all the inventory until it becomes their job descriptions!
  • They do include plenty of a�?busyworka�? as equal priority to lead generatinga��such as a broker having an agent visit a title company to learn how it operates. This keeps the agent busy and out of the brokera��s hair! Also, the new agent loves the broker for a while, because the broker isna��t asking the new agent to do those high-rejection activitiesa��those activities that lead to a sale!

Bottom line: No would-be successful agent in his right mind would continue doing this type of plan any longer than he had to, because the successful agent recognizes the plan is a poor one.

* Big Idea: Be very critical before you commit to any start-up plan. It is prioritizing your mind! The start-up plan you may love because it keeps you out of sales activities isna��t the plan that is going to love you back (get you the sales you want). What you do every day becomes your job description.

An Effective Start-Up Plan

Here are the six attributes of an effective business start-up plan:

  1. Does not give equal weight to all activities
  2. Provides an organized activities schedule with certain activities prioritized first because they lead to a sale (in Up and Running, these are called a�?business-producinga�? activities)
  3. Includes an organized activities schedule with certain activities prioritized seconda��and explaining why (In Up and Running, these are called a�?business-supportinga�? activities)
  4. Provides a road map for a continuing plan (remember that a�?plan for lifea�??)
  5. Builds in the a�?whya�? of the plan structure, so you learn to self-manage
  6. Has a method to measure and make adjustments in your plan as you progress
  7. Has a coaching component, so someone can coach you effectively to the plan

Managers/trainers: How well did your start-up plan score? Why not try using a proven plan that gets much better results faster? You’ll increase your retention and your profits!

Up and Running_5e largerAre You Using the Best Start-Up Plan for your New Agents?

Does your plan have the detailed, prioritized checklists needed to assure a great start? Does it have built-in inspiration and motivation? Does it have dozens of tips to control the attitude? If not, you need Up and Running in 30 Days. Just out in its 5th edition, it’s the most successful book for new real estate agents ever!

Click here to see the updates in my fifth edition of Up and Running in 30 Days.

 

 

Are your agents resisting getting into action?

I’ve justdo it published the 5th edition of Up and Running in 30 Days. In it, I’ve included lots of up-to-the-minute updates. You can read some of them, in these blogs.

Click here to see the updates in my fifth edition of Up and Running in 30 Days.

Below is an excerpt from the newest edition of the book.

{To agents}

Real Estate Sales IS Challenging!

Ia��ll bet you didna��t know how challenging real estate sales were until now. To cope with those challenges, your creative subconscious may be coming up with ways to convince you to avoid getting into action. You might even start believing your subconscious! One of the most common reasons is the old a�?I cana��t do that because I dona��t know enough.a�? Or, maybe your subconscious has convinced you that youa��re not organized enough to get into action, or that youa��re not perfect enough.

{Managers: Do you have some agents frozen into inaction–or trying for perfection before they’ll start?}

Getting Ready to Get Ready

Ned, an agent in my office, acted in a way that is an example of creative avoidance. In the business eight months, Ned had made only one sale. However, he was in the office regularly and appeared busy with paperwork. He attended law courses and was well-informed on financing. One day I saw Ned collating maps. I asked him what he was doing. He explained that he was putting together a series of maps for a buyera��s tour. I thought that was exceptional; buyers would really want to know the whereabouts of the homes they were seeing. Unfortunately, Ned had used his strategy with only six buyersa��all the buyers he had put in his car in the past eight months! He had spent his time on this nifty map system, but had not talked to enough people to get them into the cara��or have the opportunity to appreciate the map system! Which is more important to your goal attainmenta��talking to people, qualifying them, and showing them homes, or working diligently on a map system in case you find someone who wants you to show them homes?

How People Get into Action

How do you a�?get into actiona�??a��In a wonderful book, The Conative Connection, Kathy Kolbe explores the ways different personalities get into actiona��not how we learn, but how we get into action. Some people barge ahead and worry about the details later. We start badly, but, because wea��re tenacious, we surprise people by how good we finally get. Unfortunately, our supervisors often remember only how bad we were when we started. We must be tough-minded and keep at it; we must retain an image of ourselves as a�?finished products,a�? because others will not see us that way. Other people observe the action for a long time. Finally, when we feel ready to perform well, we get into action. We start slowly but well. Because of our slow start, we dona��t get much positive reinforcement from our supervisors (or coach or manager), who note our lack of progress compared with others in the office. If slow starters are tenacious and believe in themselves, they become very good because they practice perfectly. Kolbe points out several a�?get into actiona�? styles. This book will help you pinpoint your a�?get into actiona�? style as well as the barriers and challenges you face as you start your real estate career.

Embrace Embarrassment

Go aheada��be embarrassed.a��There is no way to be experienced until you get experience. No agents like to take risks, be embarrassed, or have buyers and sellers guess that they are new in the business. But face ita��everyone has been new in the business. Just go ahead and get those first few months over with. You will be embarrassed every daya��many times. As a new agent, my most common statement to buyers or sellers was a�?I dona��t know, but Ia��ll find out.a�? In music, little could stump mea��but in real estate anything could stump me! Still, I muddled through it, and you will, too.

* Big Idea: Your ability to get into action and risk being embarrassed is one of the attributes of a successful new agent.

Why not take your time?a��Ia��ve interviewed prospective agents who told me they really didna��t want to sell real estate right away. They wanted to learn everything they could. Then, after six or eight months, they would feel ready to sell real estate. It doesna��t work that way! I wish I could tell you that you can successfully launch your real estate career by taking lots of time to a�?get ready.a�? However, if you take all the time in the world, you will fail:

Real estate is a performance art. It doesna��t matter how much you know; it only matters how you interact with people. And that takes practice and performance. To remember and emulate good performance, we need to perform right after we have heard, seen, and practiced that performance. Learning something in a class and letting that skill lie dormant for months just guarantees poor skilla��and high stress.

* Big Idea: 99 percent of what we learn we learn by doing.

Managers: Are you unwittingly stopping people from getting into action by insisting on perfection?

Up and Running_5e largerDo You Have a Proven Start-Up Plan with Inspiration Built In?

Up and Running in 30 DaysA� has lots of up-to-the-minute updates. Plus, a proven, prioritized business start-up plan with inspiration, motivation, and action items built in. Check it out!

 

clockOnboarding: Those critical first seven days. Find out why that first week is so critical.

First: What does new agent onboarding and training have to do with retention? According to two recent studiesa��a whole lot! The new fifth edition of Up and Running in 30 Days, my new agenta��s business start-up plan, has just come out. Dearborn Education is the publisher. There are many updates in this edition. Included in these updates are conclusions from these studiesa��conclusions that support the importance of starting each new agent with a proven lead generating plan.

(To see the updates in Up and Running in 30 Days, 5th edition, click here).

In this blog, Ia��ll address some of the results and its ramifications for real state companies–from the survey published by the Society for Human Resource Management (SHRM).

Why Bother with a Great Onboarding System?

Because youa��ll have much great retention! According to the SHRM study, companies that leave onboarding to chance experience higher than 50% failure rates when it comes to retaining new talent.

Question: Do you have a great orientation system? Are you leaving anything to chance? Does your new agent feel like he/shea��s in a fog for the first few months?

If you want a a�?templatea�� and suggestions of what should be included in your orientation, click here.

Those New Hires a�?Check Outa�� Fast! (Faster than you Think!)

According to the same SHRM survey, 67% of millennials are already thinking of looking for their next job on day ONE!

Question: On day one, how are you cementing the relationship and helping that new person feel really welcome in your culture?

Tips for Those First Critical Seven Days:

  1. Manager sends a welcome email to new agent on day one.
  2. Each daya��s activities are completely outlined so the new agent knows exactly how to proceed (youa��re building in habits of success).
  3. The first weeka��s activities include shadowing and lunch with one of your senior colleagues.
  4. Welcome gift given to the new agent on day one.
  5. End of first day checklist completed with manager
  6. Round table or lunch set up with your influential agents to welcome the new agent
  7. Use a detailed, prioritized action-plan checklist, like Up and Running in 30 Days, to assure the new agent knows exactly what to do, how to do it, and is held accountable to it.

Outcome: 69% of new employees are more likely to stay more than three years if theya��ve experienced a well-structured onboarding program.

So, how does your onboarding system stack up?

Find out: Regularly survey your agents whoa��ve been with you 6 months to find out what they found valuable and how it could be improved. Why not have the best onboarding/retention system in the industry?

How’s Your Quick-Start Program Working?

Up and Running_5e largerBoth these onboarding studies prove that leaving the new agent’s orientation, training, and start to chance just doesn’t cut it. Take a look at what’s new in Up and Running in 30 Days:A� updates in 5th edition. This invaluable book is only $32.95 plus shipping, and has been used by thousands of new agents to launch successful careers. Order here.

 

 

interview with clip boardWhat does new agent onboarding have to do with retention? According to two recent studiesa��a whole lot! The new fifth edition of Up and Running in 30 Days, my new agenta��s business start-up plan, has just come out. Dearborn Education is the publisher. There are many updates in this edition. Included in these updates are conclusions from these studiesa��conclusions that support the importance of the principles in Up and Running. The biggest is starting each new agent with a proven lead generating plan.

(To see the updates in Up and Running in 30 Days, 5th edition, click here).

What Does Onboarding Include?

One study I used in Up and Running in 30 Days was the Inman Select Special Report: How to Fix New Agent Onboarding. The Inman report didna��t define what was included in Onboarding. From reading the study, however, Inman included initial training, coaching, and mentoring. I am going to add basic orientation and basic actions to the Onboarding process. Why? Because many real estate companies do not have adequate orientation processes. So, agents dona��t get the basic direction needed to launch their businesses.

Question: Whata��s your initial orientation like? Does it cover all the bases? If you want a a�?templatea�� and suggestions of what should be included in your orientation, click here.

In this blog, Ia��ll address the results and its ramifications for real state companies–from the other survey published by the Society for Human Resource Management (SHRM).

Retention Starts in the Interview

From working with real estate companies over the past three + decades, I think that most brokers regard retention as something that we must do to keep those seasoned agents. However, according to the survey results in the SHRM study, retention decisions are made by those we hire within a very short period of time. In fact, both studies indicate retention starts prior to hiring!

Here is a major conclusion from this survey, and it what means to real estate companies.

Expectations of the job are different than what new hires heard in the interview. And, the Inman report said new agents fail because they are unprepared for the realities of working as an independent contractor. Ia��m sure youa��ve experienced this. Your new agent is all excited about a career in real estate. But, he/she will not do the lead generating activities required to launch a career. You told the candidate he/she had to lead generate. Whata��s wrong?

Question for you: A�How well do you explain the job expectations in your interview? Do you provide a prioritized job description for the new agent? (Click here to grab mine). How do you give the prospective agent a real idea of the job?

Three Tips:

  1. Prior to hiring: Have the agent shadow one of your agents who is modeling the behaviors you want.
  2. Provide the agent with the eBook What They Don’t Teach You in Pre-License School. This eBook tells the truth about real estate as a career! You’ll save lots of time in the interview process and winners will pick themselves.
  3. Ask the prospect agent to do an activity you feel is important: Like create a dialogue to talk to someone they know about buying/selling real estate.
  4. Prior to hiring: Give the prospective agent Up and Running in 30 Days. Ask them to review the book. In my experience, if they come back, excited to begin this specific start-up plan, they are a good match for a productivity-focused office. If they come back and reject your lead generating plan, not a good prospect!

In my next blog, Ia��ll discuss more of the study conclusions and what they mean to us as real estate owners. Ia��ll also offer tips to tighten your onboarding process. Isna��t it worth having great systems if you could increase your retention of first year agents to 75%?

Last question: Whata��s your retention rate now of first year agents? How much

How’s Your Quick-Start Program Working?

Up and Running_5e largerBoth these onboarding studies prove that leaving the new agent’s orientation, training, and start to chance just doesn’t cut it. Take a look at what’s new in Up and Running in 30 Days:A� updates in 5th edition. This invaluable book is only $32.95 plus shipping, and has been used by thousands of new agents to launch successful careers. Order here.