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Archive for new agents

Do you feel like you need a crystal ball when you’re interviewing? We may think we’re good at picking winners, but, the statistics say we….well, I’m going to say it–we suck.

How do I know? I see the retention statistics in real estate offices. I just spoke with an agent who told me they were hiring lots of people. That was true. However, out of the 150 people they hired last year, only 40 are still with them. Sounds like a lot of work for little reward.

Three Ways to Predict if They will Succeed

  1. They let you lead the interview

Don’t you love it when that would-be agent wants in, and immediately tries to grab the conversation? Usually that person opens with, “What are you going to give me?” Or, I want a special deal.”  There are two problems here. The first problem is that they asked for a special deal and you don’t even know who they are. After having interviewed thousands of would-be agents, I’ve concluded that the ‘importance posturing’ is just that. The second problem is that they aren’t letting me lead the interview process. If they won’t let me lead now, are they trainable? My experience is that they are not trainable. They know what they know and they defend it to the death. 

2. They demonstrate the qualities you want with ‘past-behavior’ questions

Frequently, interviewers ask ‘future-based’ questions, like, “If you were ever in a situation where you had to lie, would you?” Well, of course, the candidate has the ‘right’ answer ready for you. Avoiding any future-based questions is one of the keys to choosing the right interview questions to review what you want to learn. Instead of those future-based questions, learn to ask ‘past-based behavioral predictors’. In the next blog, I’ll explain these questions. In short, these questions revealed how the candidate acted in the past. The truism is 

we behave in the future as we behaved in the past.

3. They demonstrate, through their actions, they possess the qualities and skills you want.

Few interviewers decide in advance the qualities and skills they want in an agent. If you haven’t done that, do it now. Rate them in order of importance. Now, create questions (past-based), that will reveal to you whether the candidate has the qualities and skills you want.

In my new book, Launching Right in Real Estate: What They don’t Teach You in Pre-License School, I give would-be agents the qualities will-be successful agents possess. I also provide them some questionnaires to help them determine whether they have those qualities.

Here’s my list:  

 

What’s your list? What questions do you have that indicate whether the candidate has the qualities you’ve observed show they will make in the real estate business?

Check out this new eBook. It will save you hundreds of hours of interview time, and help would-be agents self-select.
Rather than spending hours educating that would-be agent, use the self-analysis tool here.

Interview time saver: Use this self-analysis tool. 

Having interviewed at least hundreds of would-be agents, I know that they really don’t want to be interviewed. They want information. So, I used to spend hours educating them. That is, until I figured out that shouldn’t be my job. But, somebody has to, right? That’s why I wrote Launching Right in Real Estate: What They Won’t Teach You in Pre-License School. 

Pre-qualifying Tools for You

When I wrote the book, I was thinking of those hundreds–or thousands–or hours I spent, and how futile that was. Why? Because the majority of those people either wouldn’t go into real estate or weren’t serious about making it a career. Was I naive? Sure. Did I do a poor job of screening? Yes.  But, that’s how I learned to provide the information would-be agents need, and the self-screening tools to help them make the best decisions for them.

Help Them Choose the Best Job for Them

One of the pre-qualifying tools I created for the Launch book is called ‘What’s Your Ideal Job’? This helps people clarify what they really want. It also opens the door for you to probe further to find out what’s really on their minds.

Make your Career Night Stand Out

Most career nights are simply sales jobs. The speaker tries to convince everyone to join the company. And, these speakers are good salespeople! So, many people go into real estate sales who really shouldn’t be there. That’s one of the reasons we have those high turnover rates. Using the self-analysis tools in the Launch eBook for your Career Nights will help you screen people properly–and will help them separate the myths from the truths about selling real estate.

The Self-Analysis Tool: What’s Your Ideal Job?

Use this in your Information Package and/or Career Nights. Let me know how it works for you. Here’s to an effective, time-saving process for pre-screening your candidates.

Figure_1.1_Your_Ideal_Job-with-reference

Check out my new eBook, 1/2 price at $12.95 pre-publication. Will be out in a couple of weeks!
Do you do career nights? Here’s a great way to get your attendees involved.

Holding career nights is one of the lead generating methods recruiters use to find great recruiters. But, too many career nights sound the same: Sales spiels of the company and how great the company is. After while, it’s not believable. Instead, why not use some methods to involve attendees and help them self-select for real estate. 

Hiring Someone Who Won’t Contribute Doesn’t Help You

First, before I show you my  quick questionnaire of self-analysis, let me ask you: Do you want to hire anybody, just to have a body? I know. Managers tell me they are careful who they hire. Yet, 50-75% of their hires fail in the first year. How does that compare with retention rates of other businesses? Not so good–in fact, it’s pathetic…..

What Do You Gain with High Turnover?

Well, you do gain bodies and momentum for a short time. You gain bragging rights. Maybe you even gain market share–at least agent market share. And, it takes some time to see what you are losing. So, what do you lose?

  1. Your good agents–they don’t want to work with non-producers
  2. Your staff–they burn out trying to help those who won’t go to work
  3. Your bottom line–your expenses go up, without profit coming in  
  4. Your position in the market–you become the place to go where people don’t work

Help Them Screen Themselves Before they Enter Real Estate

I’m just finishing my book, Launching Right in Real Estate: What They Don’t Teach You in Pre-License School. In it, I’ve put several self-analysis tools to help those interested people decide whether they will love real estate, are willing to do the work, and what it takes to succeed. Here’s one of those analysis tools: 

Figure_1.2_Self-Analysis_Attributes_for_Success

Make Your Career Night Stand Out: Be the Counselor, not the Salesperson

Most people who hold career nights act like super salespeople, and they may be. But, just selling someone on something without interviewing them is against all the sales principles we use today. Why not follow the guidelines of principles sales, and inform, educate, and counsel. You’ll stand out as a quality company who upholds its values and chooses wisely. Great recruits will appreciate your approach.

Let me know how this self-analysis works for you.

Save time in your interview. Be sure your interviewees are informed so you can do a real interview, asking in-depth questions. Launching Right has the answers to would-be agents’ questions. Order it now at 1/2 price–$12.95 Published July 15.
Here’s why your agents aren’t achieving their potential–and what you can do about it

Here’s why your agents aren’t achieving to their potential, and what you can do about it. 

Each week, I do a live Zoom coaching call with all those agents and coaches in my Up and Running in Real Estate program. This week, we talked about why many agents don’t make it in real estate–or fail to achieve their goals. 

We’re New: How Would We Know what Good Performance Looks Like?

I surveyed 400 agents under three months in the business to find out their expectations for income–and when they expected to make their first sale. (See Launching Right in Real Estate: What They Won’t Teach You in Pre-License School). The majority of these agents said they expected (not wanted, but expected) to make their first sale in 30 days. What does that mean? They must go to work lead generating their first week in the office. But, most agents feel they just can’t go talk to people. They need training. Lots of training. So, they sit in the classroom for weeks, soaking up the expertise of the instructors. Then, unfortunately, their money runs out before they really get started. Their self-esteem goes in the dumper. They don’t know what good performance looks like.

Coaches provide the Framework for Good Performance

Let’s say you want to learn to play the piano. So, you come to me for piano lessons (I taught piano for several years). We have our first lesson, and I give you the assignment: Practice the lesson a half hour a day.  That is the expectation. You are accountable to play for me next week–and to play up to an acceptable standard. I’m serious that this is the way you’ll learn to play. But, you don’t practice that week. When you come to your lesson, guess what? I’ll have to fire myself as your teacher. Why? Because my reputation depends on your being able to play. Not only that, you told me you wanted to learn to play the piano. 

Accountability in the Real Estate Office: Coaches Have Three Jobs

Your new agent just doesn’t know what’s expected of her. She doesn’t know what it takes to succeed.

  1. Your first job as her coach is to lay out a program that will get her the sales she desires in the time frame she desires. That’s the ‘music’.
  2. Your second job is to provide expectations. 
  3. Your third job is to hold her accountable to the actions she agreed to do. 

Anything Goes…

In many real estate offices today, there are no expectations. There isn’t any accountability. Even though we provide training and good advice, agents get the idea they can take it or leave it. When they leave it, they fail. Because we don’t carry through, agents think they don’t have to do certain activities to achieve. 

How do you use the laws of achievement (a plan, expectations, and accountability) to help your agents succeed?

 

I’ve put the plan, expectations, and accountability all in my online program, Up And Running in Real Estate . Check it out here.

Be prepared for these questions in your interview.

Here are the questions I think are most important for a would-be or transferring agent should ask their interviewers. 

Unfortunately, the interview process is not as practiced or prepared by either party as it could be. So, the interviewer doesn’t find out critical information from the candidate, and the candidate asks a few general questions. I hate to say this, but some interviewers spend most of the time selling the candidate on the benefits of that particular company. Candidates get excited and join–and then find out there’s more to the story.

Any Surprises Should be Good Ones

It’s very dis-enheartening when the agent new to an office finds out that something he heard–or assumed–was not exactly  what he found after being hired. Guard against that by fully informing that would-be agent prior to hiring. The only surprises the agent should get are good ones! 

It’s a Retention Issue

 I don’t think we in real estate appreciate how important our approach to interviewing and onboarding is to retention. According to a recent business onboarding survey, the majority of those new to companies (all companies, not just real estate), decide in the first 30 days whether they want to stay with the company. It pays to be fully transparent and consistent, from that first interview, through onboarding, and into training.

Those Questions Candidates Should Ask

Here are the questions, excerpted from my new eBook, Launching Right in Real Estate: What They Won’t Teach You in Pre-LIcense School.

Figure_9.6_The_Five_Critical_Questions_to_Ask_cropped

What do you think I’ve missed with this critical list of questions?

P. S. Launching Right in Real Estate has 77 questions or categories for candidates to choose from, to assure they get the information they need to make the right choices for them.

 

Save time. This eBook will educate those would-be agents, so you don’t have to. And, you want to know what they’re being told. Hot off the presses at the end of June, pre-order at half price–$12.95 (regularly $24.95). Lots of information, too, that’s great for Career Nights.

Launching Right in Real Estate: What They Won’t Teach You in Pre-License School.

Have great would-be agents studying for their real estate license exam? Pass on these proven tips to pass the first time.

You’ve interviewed that would-be agent with great potential. Here’s a method to not only stay in touch, and support them like no other manager will.

Launching Right in Real Estate, What They Won’t Teach You in Pre-License school, tells would-be agents everything they need to know to choose real estate as a career, how to prepare for the license exam, the secrets of a great interview, choosing the best company, office, and manager for each individual–every question a would-be agent has! Here’s an excerpt from the chapter on real estate exams: What to expect and how to pass that exam the first time.

Tip #1: Before each in-class session, or when you start your next online chapter, skim the new chapter for highlights. Then, read the chapter carefully. You need to get the “big picture” before you grasp the details. This is “the forest and the trees” study truism: “You can’t see the forest for the trees.” When you use this study tip, you will see both when you need to.

Learning Fact: Experts tell us we “learn what we already know.” In other words, you must have a context for what you are learning. By seeing the big picture first, you have context. Then, you fill in the blanks with the details. Works every time… I promise.

Tip #2: Right after class, review your class subjects and notes. Why? We remember only ten percent of what we’ve heard three days after we heard it.

Learning Fact: We learn through repetition. You will need to revisit each concept at least six times to commit it to memory.

Tip #3: Make a notebook (hard copy or online) with all the definitions you covered in each class session. Create test questions to match words and definitions.

Learning Fact: It takes time and repetition to make that learning stick long-term. Now you are making your learning go deeper. You are rearranging it so you really grasp it.

Tip #4: If you learn through listening, and you can’t listen to audio only, record yourself saying the definitions. Play these in your car as you drive.

Learning Fact: Use all the senses to learn. Seeing, hearing, and using the material increases your retention to 65 percent three days later.

Tip #5: Keep up with the class work. Faithfully attend every session and study every chapter. Study regularly between sessions. If you have ever gotten behind on your work in school, you know why this is important!

Take every practice exam until you are comfortable with the process and format.

Learning Fact: When you are successful doing something, your fear goes away, and you look forward to doing that again. Train yourself to win!

Taking the Test

Face it. We have all had exam anxiety at some time. Here are five pointers that will help you relax, control your emotions, and pass the test the first time you take it:

  • Read each question slowly; then, read all the possible answers. Do not jump to conclusions to mark the “right” answer. Instead, tell yourself why each answer is wrong. By the process of elimination, find the only answer you think is correct. If you find two out of four that may be correct, leave that question and come back to it.
  • Remember, the point of the exam is to limit the number of agents coming into the field. One of the ways to do this is to write exams where exam takers jump to the “right” answer. Do not fall for it!
  • Do not answer any questions unless you are absolutely sure of the answer. Skip questions for which you are unsure and come back to them. You will either remember the answer later as you “warm up,” or the remaining questions will give you some hints as to the other answers.
  • Take your time. You will have plenty of time to answer each question on the exam.
  • Build your self-confidence as you start by skimming the exam. Find some questions you are certain you can correctly answer and answer them first. Amazingly, when your mind gets warmed up, you will find you can think through questions that baffled you when you tried to attack them at the beginning of the testing period.
  • Let the test give you the answers. By reading through the complete test first, answering only the questions you are sure of, you will find hints of other answers. Your confidence will soar, and you will find you are answering more questions as the test period continues.

These tips are excerpted from my new eBook for anyone interested in real estate as a career. Carla Cross, CRB, MA, has interviewed thousands of would-be agents. As a successful real estate agent, manager, owner, regional director, and international trainer, Cross knows the questions you have—and what you may not be told—and should know. Order her new eBook here. 

Managers: Use this to inform those great potential agents while you save time so you don’t have to answer the same questions again and again. Helps the best candidates choose real estate as a career and take it seriously.

 

May
14

New! For Your Career Nights

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Here’s something to put new energy and interest into your Career Nights.

In my new book, Launching Right in Real Estate: What They Won’t Teach You in Pre-License School, I provide several self-analysis tools so people can make the decision that’s right for them. Unfortunately, often would-be agents are not informed. Instead, they’re sold. They get excited about real estate as a career, see the ‘easy money’, and think it’s for them. Not so fast. Selling real estate can be a wonderful career for the right person. And, it’s the wrong career for some people, too. 

Put the Selling Aside and Let Attendees Discover

Unfortunately, Career Nights can dissolve into sales pitches. Instead, give some time to helping attendees discover whether they are right for real estate.

Use this quick questionnaire help attendees rate themselves in the qualities that make agents successful.

Take the Questionnaire Yourself. How Many Threes Did You Give Yourself? 

You can rate yourself from “3”, which means you rate yourself as having lots of that quality, to a “1”, meaning you have not so much. 

Congratulations! Every ‘3’ represents a quality that successful agents exhibit. Here’s what I mean.

#1. Successful agents get up in the morning and start their day in a productive way. They have a great deal of self-discipline. No one has to kick them out of bed or tell them to get to work.

#2. Successful agents finish the job, even if it takes them 12 hours that day. Unsuccessful agents great selling real estate like a 9-5 job. Doesn’t work with clients!

#3. Successful agents don’t shy away from challenges. They’re always learning and striving.

#4. Successful agents don’t wait for someone to invite them. They organize, motivate, and inspire!

#5. Successful agents have a great belief in their abilities to succeed, even when others don’t.

#6. Successful agents always keep their promises; clients can count on them.

#7. Successful agents are ‘learning based’. They don’t believe their training is over after that initial office training!

#8. Successful agents love accomplishing things. That’s their motivation–not just the money.

#9. Successful agents learn to handle the great deal of rejection we get in this business. They’re very tough-minded.

#10. Successful agents are willing to jump off the high diving board without gathering every bit of information available anytime. 

What’s a Trait of Successful Agents I didn’t mention?

Let me know what I missed. There are a myriad of qualities and traits successful agents exhibit each day.  Also, let me know how this energizes and changes your Career Nights so they stand out from the others.

 

Save time. Prepare would-be agents for your great interview and for a successful career. Purchase now in pre-release for 1/2 price. Now $12.95. Release is June 1. Great for managers to use for Career Nights or information for would-be agents.

You’re interviewing a would-be agent. Are you prepared for these 77 questions? Seventy-seven?????!!!!!!

Are you prepared for those 77 interview questions?

You’re interviewing a would-be agent. But, you quickly find out these aren’t interviews. These are Q and A. And, the would-be agent is asking all the questions. You, ever gracious, are taking hours with each person. Unfortunately, you never see most of them again.

I just finished my new eBook Launching Right in Real Estate: What They Won’t Teach You in Pre-License School. Of course, to write the book, I contacted dozens of newer agents. I also drew on my experience of having interviewed thousands of eager, enthusiastic–and naive–people who thought they would love selling real estate.

They Have More Questions than You have Time to Give

When I was a new manager, I graciously spent hours answering these many questions. I found out, though, that I didn’t get to know the candidate at all. Why? Because they just weren’t far enough along in the ‘gathering information’ process to answer my candidate questions. They were just hungry to get information. 

Would-Be Agents Get Lots of Dis-Information

I found out that these would-be agents thought:

  1. They would make $100,000 their first year in the business
  2. They could work 20 hours a week.
  3. The business consisted of looking at pretty houses and selling them to clients that magically appeared.
  4. Somehow, the client would find the agent.
  5. Armed with business cards and a good company name, the agent would provide great service, were ‘honest’, ‘worked hard’, and would ‘go the extra route’. (Heard those claims before?)
  6. Someone (manager, company, relo, websites) would provide them leads–all people ready and willing to buy from that agent.
  7. Their training program would give them all the answers and they would be educated to deal with any client. 

Where Did the Would-be Agent Get These Fantasy Ideas?

From affiliates, friends, reading, and, unfortunately, some interviewers. Oh, I almost forgot. They also get it from agents who write those ‘how I made a gazillion dollars selling real estate in a half year in my spare time’.

How Do You Set the Record Straight?

I tried to solve that problem by handing the would-be agent lots of information. Finally, one of my new agents said, “Why don’t you put that in a book?” So, I did. I found providing the book early on in the relationship saved both the would-be agent and I time, and gave the would-be agent better information with which to interview.

Back to those 77 Interview Questions

Get ready to answer ANY of these 77 interview questions…..

Download those interview questions and topics below.

Save time and give those eager would-be agents good, straightforward, realistic information. The easy way to do that is to get Launching Right in Real Estate and provide it to your would-be agents. Pre-order now and get it at half price (regularly $24.95, now $12.95). Available June 1, 2021.

You have your favorite interview questions. But, what about the potential agent? What should they be asking YOU?

What do you think are the five most important questions the would-be agent should ask you? I know. You have your favorite interview questions. At the same time, the prospective agent has questions for you. I’m just publishing my new book, Launching Right in Real Estate: What They Won’t Teach You in Pre-License School.

In this new eBook, I answer the myriad of questions the new agent candidate has. In addition, I provide advice on whether real estate may be for them (a series of self-analyses), a look at a day in the life, so they know what to expect, and the business start-up plan to assure they make a sale fast. 

Thousands of “Interviews” have Taught me a Lot

The other day, I figured the number of interviews I had done with would-be agents. I was astounded to find it was in the thousands. Did I ever learn a lot from holding these interviews. At first, I interviewed them–well, I thought I interviewed them. But, in reality, it wasn’t an interview, it was a Q and A–and they were asking all the questions. So, I started putting all those questions and answers in handouts. Finally, one of my newer agents said, ‘You should put that in a book.” So, I did. Then, when a prospective agent wanted an “interview”, I provided them the book. When they were into the pre-license course, I would schedule an interview. What I found was that I could really do an interview. I could spend most of the time asking questions and deciding for myself whether that person would be successful in real estate, and whether she would be a ‘fit’ with my company. 

A Question for You First

Before I show you the questions that I advise readers to ask, let me ask you:

Those Five Important Questions

Your Turn: What Do You Think Prospective Agents Should Ask?

Save Time! Get More from your Interview.

You can pre-order this eBook now here.

They all have high aspirations in the interview. But, how can you predict who will really be successful–fast?

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’?

 

    

Here’s the straight scoop on real estate as a career: Launching Right in Real Estate: What They Won’t Teach You in Pre License School. I’ve put the principles of a business start-up-plan, and I’ve laid out exactly what it takes to create a successful career-fast. Pre-order now here. Available April 30. $24.95 300 pages/eBook.