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Archive for start-up plan

What should you expect your first week in the business?

The next few blogs are excerpted from my ebook, What They Don’t Teach You in Pre-License School (the facts about real estate as a career!).

Herea��s Your Desk, Herea��s Your Phone, Got Any Questionsa��..

Thata��s what my first boss told me as I was hired. So, I went to the desk I was assigned anda��..waited for something to happen. I was so naA?ve I didna��t even know the questions to ask! You may be laughing now, but, that still occurs in real estate offices today. What would you do if that happened to you? Probably sit and wait for someone to

Invite you to have a cup of coffee or lunch

Invite you to go see homes for sale

And, those were both things that happened to me. You may even conclude thata��s how real estate was sold. Wrong. Unfortunately, neither of these activities makes you any money. So, I quickly figured out I couldna��t do things like the agents in the office did them, or I would produce the same amount they produceda��3-4 sales a year. (There were two others in the office, but I never saw them, because they were out sellinga��.).

What Your First Week Should Look Like

Orientation: Get everything done on the orientation checklist your manager provided. Work with the secretary or assistant to complete all the tasks, so youa��re ready to sell real estate.

Schedule an appointment with your manager to get your business start-up plan and a coaching schedule with him/her or someone designated as your accountability coach.

Start-up checklist: Your manager may provide a start-up checklist, which has things on it such as a�?create a databasea��; call potential clientsa��; a�?meet with a mortgage repa��. These lists can include business developing and business-supporting activities. Just be sure they are targeted to start your business successfullya��not just give you busywork.

Schedule your initial training: Your company should have an initial training program that occurs at least every two months. Schedule attendance at it. Chapter 9 has a comprehensive new agent training calendar you can use to compare to what youa��ve requested in the interview.

Property inspection: Every new agent wants to feel comfortable with inventory. So, schedule inspection of listings for 3-5 hours this week, and during your first month. As you become comfortable with inventory, dona��t a�?previewa�� any more than you need toA� feel comfortable working with buyers and sellers.

Top-producing agents preview with a reason: To do research on a potential listing, or to preview with a specific buyer in mind. They dona��t have time just to preview pretty properties because they are on the marketa��but non-producing agents have plenty of time to become a�?property expertsa��.

See my business start-up plan, A�for a good prototype schedule for yourself, so you’ll get great time management habits from day 1.

Want proven guidance to start your career? Check out

What They Don’t Teach You in Pre-License SchoolA� -A�everything each prospective agent should know about careers in real estate

Up and Running in 30 DaysA�–A�the new agent’s business start-up plan, with dozens of training tips, checklists, and sales guidance to start your career right

UP and Running in Real Estate — the comprehensive online version; a detailed start-up plan, with 25 training videos, dozens of documents to save you thousands of hours, and coaching plus motivation to keep your momentum to success

Carla’s advice: No matter how you start, start with a proven plan!

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.

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.