Archive for Career Success
How to Absolutely Predict if They Will be Successful Selling Real Estate
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Here’s how to absolutely predict they will be successful selling real estate.
Nope, it’s not about behavioral profiles. Although they are somewhat accurate, there are qualities, traits, and skills that most profiles don’t measure. It’s not the entrancing, rehearsed answers they give you to your equally entrancing questions during the interview. Words are cheap. It’s about measuring activities.
Watch What They Do
Yes, you’re going to ask the right type of questions during your interview (See ‘behavioral predictor questions’ in The Complete Recruiter and Your Blueprint to Select Winners). However, even when their answers are on track, they’re not actions–yet. Instead, watch and measure what they do from the first day in the business.
What New Agents Say They Expect
What does that mean? When do they have to start looking for leads? That first week in the business! Yet, how many of them start lead generating even in the first month?Expecting ‘Dumb Luck’ to Carry them to Success
Inevitably, there is a new agent who has an Aunt Martha in his back pocket. That is, Aunt Martha wants to buy a home, and has told nephew Tommy she’ll wait until he gets his license to purchase from him. Ca-ching. Dumb luck. Tommy concludes that’s how the business goes. You just wait for someone to find you and sell them a home. We know that’s not the norm, though. Unfortunately, Tommy’s going to wait a long time for that next transaction! The ‘dumb luck’ approach to the business results in low results. Since the ‘dumb luck’ agent isn’t doing a business start-up plan, we have no way of predicting results, because we can’t measure business-producing activities. We can only measure other ‘dumb luck’ agent incomes. That’s way too late to actively coach–or to terminate with purpose.
Are You a Pardon the Expression–‘Dumb Luck’ Manager or a Business Start-up Coach?
Dumb luck managers just look at results; sales and listings sold. So, they are not aware that agents may be failing for months. If new agents expect to make a sale in month one, how many months do you think it takes for them to get dis enheartened? 2-3? Not long. So, once they’re mentally and emotionally out of the business, they will resist any help from you. They’ve decided they can’t make it in the business. They’ll stay awhile, though, for ‘dumb luck’ transactions.
Leave Them Alone–They will Leave–and You’ll be Surprised
They’re nice. They are team players. Although they aren’t selling much real estate, they’re not causing problems, so you leave them alone. One day, they come in and tell you they are going to ABC Realty, because they will get ‘support’ there. They have a marketing person to help them, etc., etc., etc. You are surprised and dismayed. You thought they were happy with you, even though they weren’t experiencing much ‘dumb ‘luck–or any kind of luck. That’s the problem with leaving them alone until they fail. It’s too late for them–and you. It’s a huge retention problem.
Tip: Even though they keep rebuffing your efforts at ‘help’, keep trying to put them into a business start-up plan, so they’ll come to the conclusion that you are on their side, and that is the way to create a concrete, predictable business. Then, if they leave, they leave without blaming you, or trying it with another company who provides ‘more support’.
Lead Generating on Purpose
Do you start your new agents in a specific lead generating plan their first week in the office? Is it made up of prioritized lead generating activities? Does it have ratios of activities to results, so the new agent knows whether he is on track to his goals? Here are my activity ratios that will result in 8-12 transactions the first year in the business:
20 contacts to get one buyer or seller lead
8 times of putting people in the car to sell someone a home
3 listing appointments to gain one marketable listing
80% of listings sell
80% of transactions close
What are the ratios in your office? Do you coach your agents to those ratios? Do they know the work it takes to consistently generate the income they want to generate? Or, are they counting on ‘dumb luck’?
What do You Wish They Had Been Told?
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What do you wish new agents had been told before they hit the ground?
You could save many hours interviewing and informing would-be agents if they knew the facts–and the best questions to ask.
I’m just completing my new book, Launching Right in Real Estate: What They Won’t Teach You in Pre-License School.
I started gathering information for this book as I interviewed dozens of would-be agents. They were hungry for information. I found they had lots of misinformation, too, from various sources. So, I started gathering reams of information to hand to them. Finally, one of my agents said, “You should put that in a book.” So, I did. I’ve just written a whole new version, with the most updated facts, figures, tech, and knowledge I can find.
Lots of Info on How to Become a Zillionaire Selling Real Estate, But…
There’s little or no comprehensive information on the decision to or steps to becoming a real estate agent. Or, as I read articles, they sound too good to be true (and they probably are). The real estate agents I talk to are quick to tell me what they wish they had known prior to getting into real estate. They tell me they weren’t told the whole story. So, this book is from the perspective of the would-be agent–not the agent already in business.
In this eBook:
- Common myths about real estate as a career
- How to tell if this is a career you’ll love—and whether you have the habits and skills to succeed
- How much money you can make—and when and how you’ll get paid
- What it costs to get started—and how to budget so your money doesn’t run out before your first commission
- 70+ areas to query your interviewer to assure you pick the right company, office, manager and team for you
- The 5 most important interview questions to ask
- The best first-year start-up plan to launch you right and get paid fast
- 30 actions to take during your pre-license training to hit the ground running after you’re licensed (great to help agents make money their first month in the business!)
Not a Pie in the Sky Viewpoint
I’ll warn you. This is not a sugar-coated, everyone should become a real estate salesperson eBook. Why? Because our industry is not doing itself any favors by inviting everybody and their brother into the business (which is what we do–sorry, but we do). This book has several self-analysis tools to help readers figure out if:
- They will love selling real estate (several questionnaires)
- They are ‘wired’ to accept the actions and responsibilities of selling real estate
- They have the financial back-up to start the business
Can You Help Me Out Here? FREE book!
What do you find is a misconception your interviewees carry into the interview process? What do you want me to tell them as they prepare for a career? What advice to you want me to give them? How can I help you save time in the interview process and prepare good people for a real estate career?
Tell me me in the comments here. I’ll send you complimentary copy of the eBook, out in mid-April. Thank you for your contributions to our industry!
Romance vs. Reality: Two Views of the Real Estate Business
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The ‘romantic’ view: I’ve got my license, my business cards, I’m with a wonderful company. People will find me, be really nice to me, never offer objections, never lie to me, and do whatever I tell them. I will make lots of easy money fast, working no more than 30 hours in a hard week.
The ‘reality’: I don’t expect people to find me. I have to go out and find lots of people. I have to use my ingenuity, grit, tenacity, and never give up. I have to be able to say ‘I don’t know but I’ll find out’ a dozen times a day. I have to be able to tolerate clients not showing up, not telling the truth (come on, don’t be tough on me, it’s true….), not buying when they should, and listing with someone else.
How do we present reality? You can help. I’m editing the 6th edition of Up and Running in 30 Days, the internationally-published business-planning/action book for new agents. I’m also finishing a new book for would-be agents, Launching Right in Real Estate: What They Won’t Teach You in Pre-License School.
Tell me what you think. I’ve made 2 surveys, one for agents and one for managers. They each will take you just a few minutes, and you’ll be helping our industry prepare people for the reality of the business, not just the romance.
Here’s the link to the survey for agents.
Here’s the link to the survey for leadership.
Please return the survey to me by Feb. 27. If you’re quoted in either book, you’ll receive a copy, of course, and acknowledgment in the book.
Give Me Your Expert Advice!
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Give me your expert advice!
What are new agents doing that causes them to succeed–or fail? What do you want in a start-up program that will help more of your new agents do well–and do it fast? What’s missing in the training and coaching programs you’ve been using?
I’m editing Up and Running in 30 Days, the new agent’s business start-up plan, for the 6th edition, due to be out in mid-2021. In it, I show the what, how, why, and how much of real estate activities needed to do well quickly. Up and Running is very specific, and is easy to use to coach new agents to productivity fast. It has the specific prioritized weekly schedule and activities that future-exceptional agents do to assure a sale fast.
Many updates: The 6th edition has lots of updates, including a new section on promoting yourself through social media, new tech new agents need, and alternative methods of lead generation.
In the next blog, I’ll share more of what I’m putting into this wildly-successful program and get your input, too.
In my blog for agents, Up and Running in 30 Days, I am asking for their advice too, with a separate questionnaire.
What’s Your Advice?
As one of the new features of the 6th edition, I’m incorporating great managers’ advice to new agents. And, I’m providing dozens of coaching tips to help managers and motivate the new agent and keep him/her in the game.
Here’s what I’m asking:
- What do new successful agents do consistently that agents who fail don’t do?
- What common mistakes do new agents make that cost them time, money–and hinder their success?
- Would you advise a new agent to (why or why not)
–join a team
–have a mentor
–hire a professional coach
- What should a new agent look for in a training program?
- Other advice you provide to a new agent?
Comments: Do you have advice to me about what’s missing in training and coaching programs? Just put that in comments here.
Your name: Email:
Company name: Your Phone:
Number of agents in your office:
How to Get your Advice to Me
You can write comments to this post with answers to these questions.
Or, you can download the questionnaire to your computer, complete the questionnaire, save it, and email it to me at carla@carlacross.com. Here is the questionnaire. You will be assisting thousands of new agents as they begin their careers, and, I think you’ll find that being published will help your ‘street cred’ with those you want to hire!
If I’m able to use your comments in my book, you will receive a complimentary copy of Up and Running, acknowledgment of your comments, AND lots of PR–to help you in your recruiting as an expert in helping new agents.
P. S. Please get your comments to me by Feb. 24, so I can meet the publisher’s deadline for submitting the edited book. Thank you!
How to Use Those Business Plans to Coach all Year
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You worked hard to help your agents gain business plans for the coming year. Now, optimize that work!
Are you using your agents’ business plans to coach all year? If not, you’re missing out on leveraging that plan!
First, congratulations! You’ve helped your agents each gain a business plan. That’s a huge key to their success–but only the first step. Now, how can you capitalize on all that work (both you and the agents?) It’s not enough to teach them to plan, or even to sit down with each agent and work through their plans. In order to really help them use those plans as a guide all year, use that business plan as a platform from which to coach the agent all year.
Here are the basics of coaching to a business plan.
How often should you coach?
That depends on the agent. For newer agents, coach more frequently (at least monthly). For seasoned agents, coach a minimum of quarterly and better yet, monthly.
What should you coach to?
You’ve provided your agent with a method to set goals in finding, working with, and closing clients (I hope you’re using my Beyond the Basics of Business Planning system.) You have provided your agent a method to measure results. You’re going to use the numbers that the agent is generating by measuring the results of his business plan:
First, the goals: Lead generation, listings, listings sold, sales.
Lead generation
Listing/sales appointments
Listings
Listings sold
Sales
You’re going to help the agent translate the activity numbers into ratios so the agent knows the work he must do to reach his goals.
Why bother to use the business plan as a foundation for coaching?
Because, otherwise, you’re just giving advice or doing ‘crisis management’. You want to be perceived as a trusted business coach, helping the agent grow his/her business.
Big questions: Is the planning system you’re using
1. Helping the agent assess his business–where he’s been?
2. Helping the agent set realistic goals and an action plan that translates into daily activities?
3. Includes an accurate method to measure the activities and results of the activities so you and the agent can make fast adjustments?
Want Some Support to Get Your Agents Business Plans?
Contact me to find out how I can educate your agents on business planning and support and coach you as a leader. Give me a call at 425.392-6914 or email me at carla@carlacross.com. I can do a webinar series for you, supply you will all the planning documents, and help your leadership coach your agents–at a very affordable cost with big pay-off for you.
Do Your Agents Have Their Business Plans for this Year?
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Do your agents have their business plans for this year? Have you been avoiding the issue, hoping they would do it on their own? Not going to happen…..What’s YOUR plan to get them business plans?
What Doesn’t Work
It doesn’t work to hand them those planning documents and tell them to get them done. It’s useless. You need to teach them the process, be involved in the process, and coach them through the process. Then, you’ll motivate them to complete those plans. Also, when you treat this as important, they will respond.
What Does Work
Here are 3 ways to get your agents to do business plans:
1. Get the best planning ‘templates’ you can find, so your agents have a good planning process to follow
2. Do a class on business planning, using a proven step-wise process, along with the planning templates you’re going to use (In my online business planning system, Beyond the Basics of Business Planning, I have 2 webinars for your agents to take them right through the process, along with the documents. I also have provided you the outline for a class, if you’d like to teach it. You can use my agent webinars in your class, too).
3. Sit down with each agent and help that agent flesh out the plan. It may take more than 1 meeting. Are you willing to commit?
Level of Support
If you’re willing to provide that level of support, you will have much a better chance of getting business plans for each of your agents.
Question: Did YOU create a business plan for your office? It’s not too late to get that done, too. Then you’ll know exactly how to make a plan. (See my online program, Beyond the Basics of Business Planning, for the documents and guidance you need to create a great office plan.)
Want Some Support to Get Your Agents Business Plans?
Why not contact me to find out how I can educate your agents on business planning and support and coach you as a leader. Give me a call at 425.392-6914 or email me at carla@carlacross.com. I can do a webinar series for you, supply you will all the planning documents, and help your leadership coach your agents–at a very affordable cost with big pay-off for you.
What Should An Agent Know Before Committing to Real Estate?
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What should an agent know before committing to real estate as a career?
After interviewing dozens of would-be agents, I had compiled a stack of paper that I handed out to interviewees. I was trying to educate them so they could make a good career decision. One day, one of my recent recruits said, “You should put that in a book.” So, I did. Now, I’m creating a new edition of the book. I’ve renamed the book
Launching Right in Real Estate: What They Won’t Teach You in Pre-License School.
What should be in the book? What’s most important for that would-be agent to know? What mistakes do would-be agents make in choosing companies? What could I add to make
Saving Management Time
From all those interviews, I found I wasn’t really interviewing. I was educating. What could I include in the book that would save you interview time, and prepare the candidate for a real interview?
What misconceptions do would-be agents bring into the business that cause them to start slowly or fail?
Blast-Off for Launching Right
I’m planning on having the edits done by Dec. 1, so the eBook will be available a few weeks after that. Please add your experience and expertise so I know the contents will be useful to real estate managers.
Just leave me a comment and contribute to our industry. Thank you!
What Magic Johnson Can Teach Us About Business–and Life
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I can’t do it. It’s someone else’s fault. If only….I’ll never be able to. I tried that once. It didn’t work. It won’t work for me. Give me (you fill in the blanks) or else I can’t succeed.
You’ve heard all these reasons why someone can’t succeed. (Makes me depressed just reading this list.) So, it’s refreshing to hear someone speak about how to succeed—with no excuses. I don’t mean that we all don’t at times need a hand up. But, those are the few times. They don’t become our mantra.
I just watched a video where a UPS executive interviewed Magic. Here are some of Magic’s insightful comments.Dream it First to Live It
At age 16, Magic was a janitor while in school. He would go sit in the CEO’s chair and pretend he was the CEO; giving orders, making decisions, acting like a CEO. He said he always wanted to be an entrepreneur, not just a basketball player. Look what happened.
What are you dreaming?
On Not Giving Up
As Magic transitioned from famous, successful pro basketball player to businessman, he thought his fame would magically open doors and make him successful. He found it opened doors (they all wanted to meet him), but, it didn’t get him the funding he needed to expand his business. He was turned down ten times before a bank took a chance on him.
How tenacious are you?
Network and Lead Generate and Learn
Magic wanted to find out what was important to prominent people. He got the list of Lakers season ticket holders, and called up to 50 a day. Many met with him, and several became investors with him.
Are you lead generating with tenacity?
Tailor to your Target
Magic was an early investor in Starbucks, and has over 125 Starbucks locations today. He met with Howard Schultz, the founder and then president, and told him he needed to tailor his Starbucks businesses to his clientele. You can imagine where Magic wanted to place his Starbucks. He told Mr. Schultz he didn’t want that music that was in most Starbucks stores. He wanted Michael Jackson, Beyonce, etc. He didn’t want scones. You get the picture.
Are you targeting your marketing to your audiences?
Hire and Work with the Best
Magic says, if you find great talent, you don’t need to micro-manage them. This comes from his experience as a basketball player.
Are you affiliating with the best? Do you need to ‘up your game’ interviewing?
Shine Your Light on Others to Succeed
As you help others succeed, you’ll succeed. Magic says his reason for being in business is to help others. He’s helped thousands of minority business people launch businesses. This comes, too, from his experience as a basketball player. His mentoring others resulted in more success for everyone.
Are you providing a hand up to qualified, determined talent?
Learn from Everyone
Magic believes everyone has something he can learn from. He values each person and seeks their contributions. He says he loves to learn and he’s constantly learning.
Are you learning from those you’re around?
Add Value
Magic believes the secret of business success is to add value. When he meets with someone, he thinks about how he can add value for that person.
Are you adding value to those you work with, coach, or teach?
Does your Interview Process Need Polishing?
Check out this system for selecting winners. Save time, money, and training. See it here.
Who Is Your Training For?
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Who is your training for?
In this series, I am spotlighting training and trainers.
We segment our consumer markets when we design our marketing plans. We need to segment our ‘market’ for our training plan, too. In this case, our ‘market’ is our agents. When I ask seasoned agents about whether there is a training program in their company, they say ‘yes’. It’s for the new agent. What? Are those seasoned agents in the office chopped liver?
Use the analytical tool below to see who your training program addresses. It’s likely your training program meets the needs of your largest segment of agents. But, what about the other segments?
How to Use the Career Life Cycle. Write each of your agents in the career development phase you believe they are in. Now, underneath each column, write the training programs you have to address each phase. The Training Calendar Evaluation, which you’ll get at the end of this article, has questions to guide you in your analysis.
Note: Its really intereseting, too, if you have your assistant manager or coach also do this exercise. Then, compare the results. You will find some differences of opinion!
What did you find?
Are you ‘lop-sided’ in your office? Are you only providing training to one segment? Perhaps that’s why you’re finding it difficult to recruit those you really want. What needs to be in your training plan next year to better balance your offerings?
To get my analytical tool, Training Calendar Analysis Tool, click here. Let me know the changes you’ve made based on your evaluation. I want to help you create training with impact, with less work from you!
Help for your Training and Trainers
Do you provide training for your presenters and trainers? I’d love to help you, and them, learn and practice these types of great, quickly applicable strategies. I do trainings and presentations for Realtor trainers, trainers of real estate companies, and affiliates.
Get in touch with me and we’ll talk about your needs. I customize each presentation, too, for YOUR specific audience needs. My background as a performing musician, coupled with my real estate sales, leadership, and training experience, gives me a unique ‘take’ on training trainers. I’d love to help you!
Got Your Training Calendar Done?
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Why do you need a training calendar?
I’m going to focus on training, presenting, and facilitation for these blogs. Why? Because I see a real need for us to become masters of these areas, to help our agents and affiliates succeed at a higher level.
No Training Calendar…..
–with little rhyme nor reason as to why those events are put on the calendar. Don’t let that be you! Without a training calendar, you don’t know if your training is working to help you meet your goals. You don’t know if your training is getting results. And, your associates certainly don’t know if you have a busines plan with a training component.What That Training Calendar Will Do for You
It will:
1. Organize your training as part of your business plan for next year
2. Have a time-saving guide to implement the training you need for your company to move forward
3. Use the training calendar to recruit (internal AND external)
What percentage of real estate trainer/managers organize their training events on a calendar? From my experience, less than 20%. In fact, I doubt most managers make training a part of their business plan! Yet, training is the second-most important component to move our productivity and profitability up (recruiting the right people is #1).
Problems with Most Training Calendars
Before you read this paragraph, if you don’t have a training calendar, grab a calendar and write down the training events you intend to do next year. Now, let’s take a look at the 3 biggest problems with training calendars:
1. They don’t focus on the training events that can change the profitability and productivity of the office (too many ‘technical’ courses, and not enough sales courses)
2. They don’t focus on training events to meet the needs of each of your career life cycles (new, growth, and maturity)--they are skewed to one group of agents–usually new)
3. They don’t consist of measurable training, so you know what works
Take a look now at my analysis tool, to help you figure out if your training calendar is doing the job:
Your Training Calendar.
Affiliates: Share this blog and training calendar analysis with your brokers. They will thank you, because they’ll save time, effort, and get more agents into those training programs.
Question for You
What did you learn from your analysis?
Let Me Help Your Trainers Refine Their Skills
I help associations and companies help their trainers become masters, try new methods, keep their audiences, awake, and become more creative. Contact me and we’ll talk about how I can help you.