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Got a minute? If you're a busy manager, that's about all you have. That's why Carla Cross, management coach, speaker, and author, has created this blog just for you, with ready-to-use tips to master management through people.

Archive for What They Don’t Teach You in Pre-License School

Apr
17

Should New Agents Get a Coach?

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Should new agents get a coach?

This blog is excerpted from my ebook, What They Don’t Teach You in Pre-License School.  

I wrote this eBook to save prospective agents and managers time during the interview/selecction process. Here’s an excerpt from the eBook, discussing whether agents should get a coach, mentor, or…..:

New Agents A Looking for Support–Sometimes in the Wrong Places

As you’re interviewing {this is from the new agent’s perspecive}, you may be offered these things:

  • An accountability coach (the manager or a professional coach affiliated with that office)
  • A peer coach
  • Become a team member
  • Become an assistant

Which of these are good for you? Here’s my advice on coaches. Watch for future blogs on enlisting a mentor, joining a team, or becoming an assistant.

The Coach

I hope your manager will become your accountability coach. But, many managers promise to ‘coach you’. However, that quickly becomes a ‘got a minute’ answer man function instead of a focused, linear, goal-oriented action coaching. You don’t need a coach just for answers. You need a coach to hold you accountable to your goals and action plan.

Choosing a Coach

Here are three important points you should consider as you search for a coach:

  1. The specific program should be highly organized and precisely out­lined with checklists and systems. Ask, “What system are you going to use to coach me?” You need a specific game plan, because you are new. You have no history..
  2. The specific program should be related to a “game plan”—a busi­ness start-up plan. Ask, “What game plan are you going to use?”
  3. The coaches should be trained and coached themselves. Ask, “What’s your coaching background, and what sales principles do you believe in?” For example, each of our coaches in the Carla Cross Coaching program has been trained by me and coached regularly by me.

Positives: Having a coach keeps you on track, motivated, and, ide­ally, inspired to reach your goals.

Watch out for: Your coach is trained and dedicated to your success, and is following a proven game plan (otherwise you’ll be paying just to talk to someone every once in a while).

Types of Coaches

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

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

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

  • Answer questions
  • Let you ‘shadow them’ (see how they do a listing/buyer presentation or offer presentation)
  • Be your accountability coach

Most peer coaches don’t have a coaching program to coach to, and haven’t been trained. They are also at a loss with what to do if the agent refuses to do the work.

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

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

In the next blogs, we’ll discuss three ‘safety-nets’ that some new agents consider—because they’re afraid they will not be able to generate enough commissions by relying solely on their

own work.

Have All the Answers You Need to Make the Best Business Decision for You?

If you’re interviewing tons of prospective agents, you’re spending lots of time at it. Why not let Carla answer some of the most important new agent questions–and free you up to do a real interview? Check out my ebook, What They Don’t Teach You in Pre-License School. 

You’ll save lots of interview time and help the winners choose you!

I’m giving the same advice to those interviewing while in pre-license. These preferences are excerpted from my ebook, What They Don’t Teach You in Pre-License School.  

From the Prospective Interviewee’s Perspective

You’re getting ready to go into the interview. Do you know what you’re looking for? Use this checklist to decide what kind of company, office, and atmosphere you’ll feel most comfortable in.

Selling vs non-selling manager

You prefer a manager who doesn’t sell real estate.(non-competing)

You prefer a manager who sells real estate (may provide a good role model).

Managers: How will you explain the benefits you bring as a selling or non-selling manager?

Training

You prefer a formalized training program.

You prefer to ‘go it on your own’, with the manager available to answer questions.

Managers: How will you explain the benefits of the kind of program you provide? 

Large/Small Office

You prefer a large, busy office.

You prefer a small, more laid-back atmosphere.

Managers: How will you differentiate between the large and small offices, and explain the benefits to your type of office?

Large/Small Company

You like the idea of a large company behind your efforts.

You like the idea of a boutique, specialty company.

Managers: What are the benefits of your type of company?

Many/Few New Agents

You want to be around other new agents like you, so you prefer an office with lots of new agents.

You want to be with seasoned agents, and would rather be among the few new agents in the office.

Managers: What are the benefits of your agent mix? (Do you know what your agent mix is?)

Top Producer Assignment

You want to be assigned to a top producer to find out how that top producer works, and perhaps do work for that top producer.

You want to become an above-average producer fast, and don’t want to be in the shadows of anyone else.

Managers: How do you explain the benefits of a mentor program to your interviewee–if you have one?

Age of Agents

You want to be around people your age.

You want to be around people of a wide range of ages and interests.

Managers: Do you know your agent age mix? How do you explain the benefits of it?

Work from Office/Work from Home

You want to work from the office, and have a desk at the office.

You want to work from home.

Managers: What’s your take on the benefits of either of these? Do you have requirements? How do you explain benefits?

No Supervision/Management

You prefer little or no ‘supervision’. You’ll go at your own speed.

You want and expect leadership and guidance as you start your career.

Managers: How much supervision do you employ? What are the benefits of your approach?

Coach/No Coach

You want a coach dedicated to your success.

You prefer to go it alone and operate independently.

Managers: Do you have a coaching program? How do you explain the benefits–or not?

Mentor/Manager

You want a mentor—someone you can go to ask questions at any time.

You want to go to your manager as your trusted adviser.

Managers: Do you have a mentor program? Who is the mentor? How do you explain benefits?

Most Important in the Interview

There are 3 important points here:

  1. Create questions based on these preferences
  2. Be ready to explain the benefits of how you work
  3. Decide your standards–what you will tolerate; what you won’t tolerate

Save Interview Time and Give Them the Straight Scoop

Are you spending hours in the interview process? Explaining the same things over and over again? Why not let Carla take some of that obligation from you, so you can spend your time in a great interview? Check out What They Don’t Teach You in Pre-License School.  

 

 

Here’s what your new agents need to do their second week in the business.

These 2 blogs (my previous one and this one) are excerpted from my eBook, What They Don’t Teach You in Pre-License School.

Compare this advice to how you start your new agents into their second weeks in the business.

Here’s what to do your second week in the business.

Business start-up plan: You should start your lead generating now, devoting two hours a day, five days a week. Why? Because you want to generate lots of potential clients so you can choose the best ones. If you don’t start now, you are just putting off your success another month!

Your coach: Meet with your coach at least 3 times this week to assure you’re starting your business to production fast.

Benefits of Shadowing 

Shadowing: This literally means following a seasoned agent as he/she does his/her business. Typically, you would shadow an agent doing a listing presentation, a buyer presentation, or presenting an offer. Is it a good thing to do? It depends on the abilities of the agent. If you decide you want to shadow, find out:

What format the agent is going to use; is it a format that you will or have been trained to do (like an approved listing presentation)?

What’s the point of the shadowing?

Will you get coaching on your own presentations as part of the shadowing process?

What are you expected to provide in return?

Shadowing provides a ‘model’ for you. Be sure it’s a model you want to emulate!

What Your Training Priorities Should Be 

Most companies have company training programs, or programs they recommend. You should attend.

These are:

  1. Lead generation communication skills: You need to learn, and practice the skills of lead generation so you can begin to generate leads (which lead to appointments which lead to clients which lead to SALES!)
  2. Buyer and seller presentations: You should be given these presentations and should practice them. This includes qualifying buyers and sellers.
  3. Business planning skills, including a business start-up plan—you should have a course that teaches you the basics of how the numbers work, and gives you a method to set your goals and keep score
  4.  Principles of Agency and how to explain agency to a seller or buyer
  5. How to complete a listing agreement and explain it to a seller
  6. How to write a purchase and sale agreement and explain it to buyers and sellers

Why these priorities? Because these either put you right on the sales path, or provide the technical information you need to support those sales activities.

What About Everything Else? 

What about all the rest of the knowledge you don’t have and are afraid someone will find out you don’t have? Don’t worry. You will be able to learn as you go. But, if you avoid getting into the field and meeting potential clients, you won’t need to worry about learning more. You’ll be out of the business…..

See more: For detailed weekly schedules and activity plans for your first two months in the business, see my online business start-up program, Up and Running in Real Estate.

 

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!).

Here’s Your Desk, Here’s Your Phone, Got Any Questions…..

That’s what my first boss told me as I was hired. So, I went to the desk I was assigned and…..waited for something to happen. I was so naïve I didn’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 that’s how real estate was sold. Wrong. Unfortunately, neither of these activities makes you any money. So, I quickly figured out I couldn’t do things like the agents in the office did them, or I would produce the same amount they produced—3-4 sales a year. (There were two others in the office, but I never saw them, because they were out selling….).

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 you’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 ‘create a database’; call potential clients’; ‘meet with a mortgage rep’. These lists can include business developing and business-supporting activities. Just be sure they are targeted to start your business successfully—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 you’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, don’t ‘preview’ any more than you need to  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 don’t have time just to preview pretty properties because they are on the market—but non-producing agents have plenty of time to become ‘property experts’.

See my business start-up plan,  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 School  – everything each prospective agent should know about careers in real estate

Up and Running in 30 Days — 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!

coaching-hand-upHere’s how to get more success with your new agents–starting with before licensing.

Managers: Use this as you’re interviewing to help those best candidates get ready to be successful.

Managers: your new agents wait to start training until AFTER they join an office. Why? Think how much faster they could go if they had lots of the organization and training under your belt prior to their first day in the business?  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. (from my new eBookWhat They Don’t Teach You in Pre-License School).

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

New agents generally spend the first 1-2 weeks getting ‘orientated’. Brokers 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 New Agents Plan to Start Lead Generating?

My studies show that new agents want to make a sale their first month in the business. That means you need to start lead generating your first WEEK in the business! From hiring and training hundreds of new agents, I’ve observed they put off the inevitable as long as possible, hoping ‘there’s another way!’ In fact, the more ‘get ready to get ready’ work new agents doing, the worse their habits become and the less money they make!

A Better Method to Get  a Check Fast

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

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

30 Things to Do While in Pre-License School

In fact, as I was writing my  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.

Let me know how the checklist worked for you. I’ve used this with pre-licensees and seen them sell much faster and with much more confidence.

what-they-dont-3d_coverYou Need This! Prepare to Sell Real Estate Fast and Well

This 280+ page eBook is packed with questionnaires, advice, processes, and systems to prepare pre-licensees (and new agents!) for the real world of real estate.  See What They Don’t Teach You in Pre-License School. Only $14.95, and immediately downloadable. Now, a Kindle version, too.

Managers: Use this to help your great candidates assure they make it in the business!

bag of money

Are your training during pre-license? Why not?

This month, we’re focusing on training.

Managers: Why aren’t you training for sales during pre-licensing? You hire them–then you just wait until they have their licenses to start training.

Give Them a Head Start Instead

Have you thought about a ‘head start’ program for your newbies? If you’re like 98% of managers, you wait to start training your agents until AFTER they join your office as newbies. Why? Think how much faster they could go if they had lots of the organization and training under their belts prior to their first day in the business?  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 checklist, 30 Things to Do Right (In Pre-License School) Now to Hit the Ground Running. (from my informative eBookWhat They Don’t Teach You in Pre-License School).

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? (Better track that so you know who’s going to work). 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 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

This list is not only helpful to those you know you’re hiring, it’s a very effective recruiting tool. It proves to your potential recruits that you care about their career success–even before you hire them!

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 introducing a course to prepare people to sell real estate. More to come!

what-they-dont-3d_coverSave Time! Prepare Your New Agents to Sell Real Estate Fast and Well

This 280+ page eBook is packed with questionnaires, advice, processes, and systems to prepare that pre-licensee for the real world of real estate. You’ll save precious interview time and help winners choose you. See What They Don’t Teach You in Pre-License School. Only $14.95, and immediately downloadable. Now, a Kindle version, too.

P. S. This book will save you hours if interview time because it will weed out the ‘hang my license’ bothersome ones…..unless you want non-producers, of course!

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! The new fifth edition of Up and Running in 30 Days, my new agent’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 studies—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, 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’s 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 Out’ 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 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.
  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’ve experienced a well-structured onboarding program.

So, how does your onboarding system stack up?

Find out: Regularly survey your agents who’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:  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.

 

 

2 girls for magnetsAre your career nights frankly boring? Here are some tips to put some pep into them.  Are they dazzling, informative, and truthful? Or, do you just plow through the material and hope, at the end, you’ve ‘covered the material’? Career Nights are one of the 11 methods of finding recruits. Why not optimize your chances of finding more winners?

See the bonus for your Career Nights, too, at the end of this blog.

Here are three ways to assure your Career Nights involve, provoke, and capture the attention and imagination of your audience.

1. Help them discover their own business attributes

Are you using some analytical tools that help the attendees discover if they would be a ‘fit’ for real estate sales? In my new eBook, What They Don’t Teach You in Pre-License School, I provide some analytical questionnaires for would-be agents so they can discovered whether they would love real estate sales.

Point: It’s much more interesting talking about yourself than hearing others talk!

2. Provide them a solid job description

But, don’t just hand it out. Instead, work with them in listing business-producing or business supporting activities. Help them prioritize the activities that make them money–and cost them time. What They Don’t Teach You in Pre-License School has a job description for a successful real estate agent. Do you provide a job description at least–during your interview?

Point: Most agents never get a job description, and end up doing many things that don’t make a difference in their careers.

3. Help them discover their ideal job

In the pre-license ebook, I have attendees answer a questionnaire that helps them discover their ideal job. The truth is that some people will love selling real estate, and many won’t. Wouldn’t it be better for everyone involved to figure that out prior to making the decision to go sell real estate?

Point: We don’t need more licensees. We need more people who will love selling real estate and be compelled to do it well!

What do you include in your Career Nights that makes it exciting, involving, and truthful? Is it helping you choose winners?

This month, when you order my eBook below, I’ll include the documents from the eBook ready to use in your Career Nights.

Save Time and Make your Interviews Work for You

what-they-dont-3d_coverSee more about that eBook here. There are dozens of ideas you can incorporate into Career Nights, your interviews, and your recruiting packages.

You’ll save hundreds of hours in time, too, so you won’t have to do ‘informational sessions and can concentrate on those invaluable screening interviews.

 

bag of moneyManagers: Why aren’t you training for sales during pre-licensing? You hire them–then you just wait until they have their licenses to start training.

Give Them a Head Start Instead

Have you thought about a ‘head start’ program for your newbies? If you’re like 98% of managers, you wait to start training your agents until AFTER they join your office as newbies. Why? Think how much faster they could go if they had lots of the organization and training under their belts prior to their first day in the business?  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 checklist, 30 Things to Do Right (In Pre-License School) Now to Hit the Ground Running. (from my informative eBook, What They Don’t Teach You in Pre-License School).

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? (Better track that so you know who’s going to work). 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 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

This list is not only helpful to those you know you’re hiring, it’s a very effective recruiting tool. It proves to your potential recruits that you care about their career success–even before you hire them!

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.)

Take It a Step Further

Why not create a 4-6 module course based on this checklist. Do it evenings, with assignments for the attendees. You’ll be able to see who is willing to go to work. Now, you’ll be able to hire the best!

what-they-dont-3d_coverSave Time! Prepare Your New Agents to Sell Real Estate Fast and Well

This 280+ page eBook is packed with questionnaires, advice, processes, and systems to prepare that pre-licensee for the real world of real estate. You’ll save precious interview time and help winners choose you. See What They Don’t Teach You in Pre-License School. Only $14.95, and immediately downloadable. Now, a Kindle version, too.

P. S. This book will save you hours if interview time because it will weed out the ‘hang my license’ bothersome ones…..unless you want non-producers, of course!

man ponderingThis month, I’m focusing on helping you retain your new people.

Managers: What’s your retention rate for new agents under 6 months in the business? Do you know? Do you have a goal for it? Now, I don’t mean how many agents you hire who stay in the business no matter what they do! That’s not profitable to you! If you don’t know your retention rate now, figure it out. But, drop out those who are staying in your office without production–just because you don’t ask them to leave!

How Much Money Is Low Retention Costing You?

Do you know how much money it’s costing you if you have too low a rate? What rate do you think is reasonable to expect? In another blog, we’ll discuss the line items that you should use to figure your retention rates.

I’ll bet 90% of managers can’t answer all the questions above. Although no manager would ever tell me he/she hires just to see what sticks to the wall, in reality, that’s what much of the hiring still looks like today.

One View: Hiring Everyone Is Just OK

If you think that’s true, then, what’s it costing you in management and training time? Management and training turnover? It doesn’t take too many agent failures to make a manager give up. I know. I’ve coached many of them. Managers need to feel that the agents they hire are going to work, so that the manager’s time and expertise is respected and rewarded. Is your hiring expectation supporting your manager, or not?

What’s it costing you in your ability to recruit winners? Agents know the ‘aura’ and culture of an office. Don’t kid yourself. If you load your office with non-producers, you’ll get to be known, as an office was known when I started managing there–as the office that ‘you go to if you don’t want to work’. What are agents saying about your office? What do you want to do about it?

Three Things You Have to Have in Place to Get your Good Hires a Sale Fast

Obviously, you have to have a great screening/interview process. But, for now, I’m going to assume you have just that. So, here are the three things you have to have in place to get those agents a sale NOW:*

(My study, that I show in my ebook for would-be agents, What They Don’t Teach You in Pre-License School, revealed that over half the new agents (under 3 months in the business), expected a sale in their first 30 (yes, 30!) days in the business!). So, your 3-step system has to have that as a goal. Why? Because your agents, whether you know it or not, are mentally out of the business in 3 months if they haven’t gotten a sale.

1. A thorough on-boarding system

Take a look at your first 3 weeks in the business for your new agent. What is that agent doing every day? Do you have checklists? Processes? Someone dedicated to coaching them through those first 3 weeks? In my next blog, I’m focus in on that on-boarding system you need. Studies show that ‘workers’ success and loyalty, plus their retention, is cemented–or not–in the first few weeks they’re in your office. Is your on-boarding system a ‘loyalty-glue’ maker?

2. Someone completely dedicated to guiding them through the onboarding and business-start up systems

Do you have a coach specifically dedicated to assuring your new agents get on track and stay on track? That coach may be you–but someone has to do it. You’d be amazed the number of times I hear newer agents tell me that there’s no one dedicated to coaching them to a start-up plan? Why? Isn’t each new agent hired worthy of that dedication? Or, if not, why were they hired? (remember that ‘throw them up against the wall’ approach?)

3. A specific, accountability-anchored business-start-up plan supported with training modules

Imagine your new agent sitting at her desk. How does she know what to do each day to get that sale quickly? Does she have a specific business start-up plan supported with training so she knows how to do the work? If not, she is just floundering, trying to pick up ideas from those agents who stay in the office–because they’re not working with clients! How would you rate your start-up plan?

How did you rate yourself on the 3 systems above? What do you want to work on first?

logoDon’t Reinvent the Wheel: The Start-up Plan, Training, Coaching, and Accountability is Here

It literally took me years to put together this unique online program, Up and Running in Real Estate. Why not let me take a huge burden off your shoulders and provide you 2 of the three things you need to jump-start your agents? Take a look at Up and Running in Real Estate and the companion Coaches’ Corner. You’ll reap many more rewards for a small investment, and find it easier to recruit winners.

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