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Archive for Retention

Finding your next great manager requires you to think through exactly what you want. See my qualifications below.

In my earlier post, we discussed finding that next great manager. Now, here’s more information you need to get that great leader–that person you’ll enjoy working with!

You are Not Done Describing the Job

You need to attach your performance standards for management activities (minimum expectations for that person to retain his/her job) in each of these areas.

For example:

How many hours a week do you expect your manager to recruit? (lead generate)

How many lead generating calls do you expect your manager to make per week?

How many interviews do you expect your manager to hold per week?

How many hours a week do you expect your manager to interview and select?

What are the selection standards you expect from your manager (who should be hired and who should not)?

How many hours a week do you expect your manager to train?

How many hours a week do you expect your manager to coach?

Who do you expect your manager to coach?

What leadership activities do you expect of your manager?

What staff/operation activities to you expect?

What do you expect your manager to do to increase the bottom line?

Decide this in terms of:

How many recruits per month (decide on your ratio of new or experienced)

Production per month

Moving your experienced agents from ____ revenue units (sales and listings sold) to ________ revenue units by _____________ (date)

Profitability increase of __________ in _____________ months

Standards Agreement Usually Missed in the Hiring Process

This specific standards agreement is usually missing in the hiring process. It takes awhile during our coaching sessions to develop a workable standards agreement for each situation. But, without a standards agreement, you haven’t laid out exactly what the job expectations are. You have no method to coach and hold your new manager accountable. And, if you need to terminate, you should have measureable reasons to terminate.

Now, armed with your description of the ideal manager, your job description, and your standards agreement, you are ready to search for that people developing manager who will take your company to greater productivity.

Carla is standing by to coach you to choosing your next great leader. Her background as a regional director where she screened dozens of leadership candidates has given her a unique perspective on the process. Why not see if Leadership Mastery Coaching is a ‘fit’ for you? Click here for a complimentary consultation.
Aug
26

Your Mutual Expectations Dialogue

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Do you explain your expectations in a friendly, yet firm manner? Or, do you just hope things work out and that your candidate ‘gets’ your values and culture?

I have done 2 short videos on these very important topics. The first video addresses establishing standards (minimum expectations). The first video was in my previous blog. The second video explains how to address these expectations with the agent.

Here’s the second video: Your Mutual Expectations Dialogue

Here are the documents I mentioned to help you think through and put your standards in place:

Establishing your Standards for your Agents

Up and Running in 30 Days Goals and Standards

Up and Running in Real Estate Commitment Letter

Use the information here, along with the standards documents, to raise the performance of your team to a much higher level!

Is your onboarding process creating loyalty or ‘buyer’s remorse’?

What do your agents think about your onboarding process?

In my earlier blogs, we’ve explored the importance of onboarding, and some of the common mistakes we all make. I am in the midst of a consulting assignment with a real estate company. They asked me to evaluate their onboarding process and make recommendations. To do that, I created and did an onboarding questionnaire. In this blog, I’m using ‘we’ do protray the company leadership and me.

I promised I’d share my onboarding questionnaire, so here it is.

Have you ever found out what your agents think about your process? Now is an excellent time to do this. Use my questionnaire and add your own questions. I asked these questions over the phone. At first, agents were reticent to share. Then, as I explained we were working to tighten the process, they opened up, and gave us great information. The bottom line: They were thrilled we had asked them! It made them feel an important part of the organization.

When you ask: Don’t judge, and don’t criticize. Just accept the information or probe for more detail.

My Results of My Survey

I’m going to share the results of my survey here with you. Some of the results were surprising; some were predictable.

What We Did With the Results of the Survey

We held a series of meetings to discuss the results. We then assigned duties to make this whole process better. We hired a person whose main job is to ‘dog those agents’ tracks through the complete onboarding process. Do you think this will result in a better retention record? We do.

Your turn: What are you doing to assure your onboarding process continues the excitement and loyalty you set up during your interview process? Or, have you thought about it?

Want to talk about my helping you create a world-class onboarding process? Email me at carla@carlacross.com or call me at 425-392-6914. Let’s get this to mastery level!

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 studies–a whole lot!

In this blog, I’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 you’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/she is in a fog for the first few months?

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

Those New Hires Check Outa There 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:

Tips for Those First Critical Seven Days:

  1. Manager sends a welcome email  or snail mail (better) to new agent on day one.
  2. Each day’s activities are completely outlined so the new agent knows exactly how to proceed (you’re building in habits of success).
  3. The first week’s activities include shadowing and lunch with one of your senior colleagues. (If you have an advisory council, this is a perfect match!)
  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 they have experienced a well-structured onboarding program.

So, how does your onboarding system stack up?

Find out: Regularly survey your agents who have 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?

A Survey for You to Use: Next

In my next blog, I’ll share the survey I just did in an office where I’m consulting on their onboarding system. Boy, did I get some great feedback!

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: 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.

What could your retention rate be if you had a superior onboarding system?

 

 

interview with clip boardOnboarding: Is it causing attrition or retention in your company? Do you know? Do you know how awesome (or not) your onboarding system is? Have you done a survey? (more about that in later blogs).

The biggest lesson in the onboarding process is starting each new agent with a proven lead generating plan.

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 didn’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 don’t get the basic direction needed to launch their businesses.

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

In this blog, I’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. I’m sure you’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. What is wrong?

Question for you: 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, I’ll discuss more of the study conclusions and what they mean to us as real estate owners. I’ll also offer tips to tighten your onboarding process. Isn’t it worth having great systems if you could increase your retention of first year agents to 75%?

Last question: What’s your retention rate now of first year agents? How much money do they make their first year in the business? Do you know?

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: 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.

Here are the 5 great performance principles I learned from my piano teacher.

Why are these so important? Because, as trainers, we want to

change behavior,

 

 

not just impart information!

Big questions right now: Are you training with methods that actually change behavior, or are you just imparting information you think will help your students?

PS. If you want creative training techniques that really do change behavior, check out my unique course, Instructor Development WorkshopOr, see my distance learning version, Train the Trainer. Both qualify instructors to teach clock hour courses in Washington state.

Why Some Get Results–and Others Don’t

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

Great question, huh? In fact, if we trainer/coach types knew that answer, we could build our systems so that we assured great performance! So, I went back to my ‘former life’–that as a musician and piano/flute teacher, and thought, “Why do some piano teachers create great performers–and others don’t?”

Why Use Piano Teachers as the Analogy….

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

Five Proven Components for Great Performance

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

1. Great piano teachers screen in and screen out.
They don’t let just anybody take lessons from them.

Trainers and coaches: What’s your ‘screen in’ process? Do you have one? Do you have a list of questions you ask? In our coaching company, we have a prescribed list of questions we ask potential clients (and we unfortunately have to turn down some). I even have a Coachability Assessment I provide potential clients. Click here to request your copy.

2. Great piano teachers set expected standards (minimums) during the screening process–not after the lessons start!
Those standards include: Amount of practice each day, recitals attended and played in, going to lessons, etc.

Trainers and coaches: What do you expect of your clients? Make a list of at least 5 standards now–and get the ‘mutual expectations’ agreement in writing prior to letting them into your program.

3. Great piano teachers figure out the ‘competency levels’ they want their students to attain–and when they expect them. They won’t let the students perform in front of others if the student has not reached compentency levels.

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

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

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

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

Behavior that’s rewarded is repeated.

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

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

Principles, System, Coaching–Putting it All Together

From talking with prominent trainers, managers, and coaches, we’ve pinpointed a need for all those training and coaching today to get the coaching they need to turn out great performers. So, each one of these 5 principles is in my initial online training program for newer agents: Up and Running in Real Estate. Check it out. Your agents will be performing better and faster with this program and principles.

Is Your Initial Training Program Getting the Results you Want?

Or, a better question: Do you know what the results are? With my online training program, Up and Running in Real Estate, you see the progress your agent is making each week. You measure the results in concrete terms. Check it out. It will save you time, and money, and give you much greater retention!

Here are 4 ways your meetings go wrong, and a planner to assure they go right.

This month, I’m focusing on the main responsibilities of a real estate manager. If you’re going into management, how are you going to make your meetings exciting, interesting, and participative?

Death By Meeting…….

If you haven’t been in a meeting that went sideways, you probably haven’t attended enough meetings! I just attended a meeting that was almost painful to experience. It went on and on, with little organization. The speakers had no rhyme nor reason to their presentations. And, finally, I wasn’t even sure what we were to do as a result of this meeting!

As I sat there, I thought, “How can I help meeting planners/managers/presenters avoid the mistakes I’m experiencing and plan a meeting that works every time?” I came up with this Presentation Planner and Promotion form. Using it with your presenters will assure that you avoid these four big mistakes:

1. No promotion to your target audience for the meeting
2. No focus to the meeting–no theme, no stated benefits to the target audience
3. Presenters do not have a format from which to create their presentations–so they just wander around in a vast wasteland of facts and figures
4. There’s no call to action as a result of the speaker or of the meeting

Promoting Your Event

So, my Presentation Planner includes a section on promotion. After all, as you plan your presentation, you’ll naturally think:

  • Who is the event targeted to?
  • What are the 3 major benefits to this target audience?
  • What will they walk away with?
  • Where will I promote it?

The planner I created will help you avoid the 4 common mistakes listed above. It not only assures a persuasive presentation, it helps you promote the event, too!

Click here to grab your Presentation/Promotion Planner.

I’m Here to Help You Become a Great Leader!

If you’re new to management, or you’re being challenged in management, I can help. My Leadership Mastery individual, custom coaching program will help you master the major activities of management–stepping you from ‘maintenance management’ to true leadership. Check out my program here. Contact me for a complimentary consultation.

Going into management? How are you going to motivate?

This month, I’m featuring blogs regarding going into management. Why? I’ve been interviewing for that next great leader. Unfortunately, I’ve found few candidates have prepared at all for management. (Read my earlier blogs for preparation needed).

As managers, we agonize over how to motivating our agents/employees. Yet, we generally know little about how motivation really works. Here is one psychologist’s view on motivation, with tips on how to make it work for you in the workplace.

Different strokes for different folks. We think people are motivated by whatever motivates us. If we like to be up in front of hundreds and receive those number one trophies, we assume others do, too. Not true. MCClelland, a psychologist who wrote lots about motivation (see Achieving Society, Power is the Great Motivator), observed that people were motivated by one of these motivators:

a. achievement
b. affiliation
c. power

Identifying Who’s Who

What are some actions that achievers demonstrate?

What are some actions affiliators demonstrate?

What are some actions power people demonstrate?

Which one are you motivated by? How do you know? Think of a time in your life when you were very motivated by something. Was that ‘something’ categorized as achievement, affiliation, or power? You can ask your team members that same question, and find out their dominant motivator (and just observe them in action, too!).

Managing to the Motivators

McClelland said, that, if you’re managing an achiever, you should:

  • provide clear-cut goals
  • give prompt feedback

Managing an affiliator? You should:

  • treat him/her as an individual
  • be emphathetic
  • provide encouragement

With the power person, you should:

  • set clear guidelines
  • talk about how to win
  • speak in terms of results

Who Challenges You?

To really put this to work, pick a person you manage that you find challenging. Pinpoint their main motivator. Try the actions McClelland suggests. I’ll bet you’ll not only get more cooperation, you’ll start to feel ‘in tune’ with that person–and provide the atmosphere for them where they can be motivated–their way.

For your next sales meeting: Explain McClleland’s approach to motivators. Ask agents about 3 times in their lives when they were really motivated to achieve something. Then, explain the 3 categories, and ask agents to choose their dominant motivator.

Get The Insights You Need to Hire with Confidence

If you’re a new manager. You’ll want to cut your time frame by interviewing more effectively. You work so hard to gain those interviews. But, do you have planned interview process that assures you pick winners? (And assures the candidates are impressed with you….) Your Blueprint for Selecting Winners, with new information about what desired agents of today are looking for, is a guide to create your unique attractors, how to put together a powerful presentation, and a completely new video showing exactly how to craft the best ‘crystal ball’ type of questions. Learn more here.

So you’re thinking of going into management. One of the great actions effective managers do is to create and implement a training program that actually gets results.

This month, I’m featuring blogs regarding going into management. Why? I’ve been interviewing for that next great leader. Unfortunately, I’ve found few candidates have prepared at all for management. (Read my earlier blogs for preparation needed).

Grab your training calendar from your office (you do have a training calendar, don’t you?). Do you believe that training is getting the biggest ‘bang’ for your training buck (effort expended, talent needed, results expected)?

Maybe you’re taking part in the training program. 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?

If you have access to your office’s profit and loss statements: 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.

Training can Solve Some Challenges–and Not Others

When you go into management, you’ll see various challenges that training can solve (and some challenges training can’t solve!). Decide which challenges you can solve by providing training (like increasing listings sold) and which challenges can’t be corrected by more training (ethical issues are hard to re-train to, since people’s ethics are pretty hard-wired into them in their early years!).

Pretend now you’re in management. 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 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.

How to Figure Out What’s Wrong with that training Program

From working with many managers over a period of years, I’ve created an analytical tool to figure out what’s good, bad, and ugly about that training program. Use it in your office. Or, if you have the guts, use it with your manager and then create a plan to create better training–with goals for specific, measurable results.

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

Managers: Do you have someone you know would be a great manager? Start working with that person now. Get them into training. Have them take a great Instructor Development Course, team train, and, finally, start training on your program.

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

The Complete Training Guide for Real Estate–Gain Skills and Techniques

Here’s the comprehensive training tool that will help you create great training programs, become a confident, effective trainer, and help many more people succeed in real estate! Check it out here.

How much time should you spend in these management activities I’ve listed in the handout below?

This month, I’m featuring blogs regarding going into management. Why? I’ve been interviewing for that next great leader. Unfortunately, I’ve found few candidates have prepared at all for management. (Read my earlier blogs for preparation needed).

In my Leadership Mastery Coaching program, I provide several analysis tools to help new managers get started right with the best practices. At the end of this blog, grab my Time Analysis for Managers. Use this to set up your schedule (if you’re going into management). If you’re already in management or managing managers, use this to help managers get their priorities right for success.

Where Managers Go Right–and Wrong

In my most popular book, Up and Running in 30 Days, the new agent’s start-up plan, I divide all the activities an agent could do into two categories: business producing or business supporting. Business producing are those activities where the agent is finding, working with, and closing clients. Business supporting are all the rest of the activities. Where do you think agents go wrong? They spend too much time in business-supporting activities.

Now, let’s compare that to the categories and activities managers do. They also divide themselves nicely into busininess-producing and business supporting. (Take a look at my handout at the end of this blog).

How do You Spend Your Time?

From working with hundreds of managers in my Leadership Mastery program, I see that successful managers spend the majority of their time in business producing activities. The failing managers spend most of their time in business supporting activities. In fact, they become masters of the technical aspects of the business, and spend lots of time preparing and playing technology. (Sound familiar to those of you managing failing agents?) There’s nothing wrong with knowing the technical aspects of real estate and using technology. But, the failing manager focuses and ‘lives’ there.

What’s Your Conclusion?

Let me know how you used this analysis tool. General managers: What did you find when you had a manager use this tool? What changes will you help them make?

Grab my Time Analysis for Managers. Use this to set up your schedule (if you’re going into management). If you’re already in management or managing managers, use this to help managers get their priorities right for success.

Resources (Some are FREE) to Gain those Management Skills

This month, I’m offering some of my management resources free with purchase of other resources. Check it out here.