In my eBook for prospective and new agents, What They Don’t Teach You in Pre-License School, I address several choices they need to make. I know some of these choices feel ‘safe’. But, are they really good for you? Here are pros and cons to each of these possibilities.
Managers: Use this information to counsel your indecisive agents, whether they’re new or not!
Joining a Team
As you interview, you may be invited to join an office team. That means youa��ll be essentially working for a a�?rainmakera��, a lead agent who generates a�?leadsa�� for those on his team. Of course, those leads cost money, and the rainmaker takes about half the income from the team member for the lead generation and other services.
Teaming helps agents obtain leads as they start up business. While agents earn the most in commission dollars when they generate their leads themselves, a new agent may need to pay for someone elsea��s lead generation to begin to develop business. There is a downside to this approach, howA�ever. Agents can become complacent and sit and wait for leads. They wona��t generatea��until they get tired of paying for someone elsea��s leads.
A�Positives: You may be able to jump-start your career with leads given to you.
A�Watch out for: Be careful to choose a rainmaker who really has enough good leads to distribute to you. Sit in on her team meeting to see how she manages the team. Find out if and how the rainA�maker will train you. Find out how much turnover there has been on the team. Find out whether you can sell and list houses outside the teama��and how much the rainmaker would charge you if you did. Read the contract the rainmaker asks you to sign and be sure you understand the consequences of your involvement. Evaluate how good a leader that rainmaker is. Some rainmakers are great salespeople, but lousy leaders, and so their team never a�?jellsa��. Most team leaders ultimately expect their team members to generate their own leads, in addition to team leads. If you cana��t meet the rainmakera��s expectations, you are terminated. Be willing and ready to take the responsibilities of team member seriously.
Become an Assistant
Some agents have the bright idea (they think) to become an assistant to a�?learn the businessa��. I have seen a few assistants become good real estate agents. But, herea��s the rub: The good assistant likes to do a�?tasksa��. Remember the information about behavioral profiles? The assistant profile is task-oriented, while the salesperson profile is people-oriented. So, while the assistant criticizes the agent for not doing paperwork, the agent is out in the field selling houses. (The assistanta��s job is paperworka��..). The agent and assistanta��s skills are supposed to complement each other, not duplicate each other.
If you become an assistant, youa��ll learn the paperwork side of the business. If you have the right profile and background, you may become very good at it. But, the more you love being an assistant, the more you will hate selling real estate!
Big idea: Assistants see a different side of the business, and see what the agent isna��t doing well (paperwork and follow-up). What they dona��t see is the people-interactiona��which the agent does exceedingly well. So, assistants think that the business is a task/technical one. Thata��s the wrong emphasis.
Start the Business Part-Time
Wea��ve already discussed the part-timer in another part of this book. If youa��re considering that, I have important questions to ask you:
What will compel you to change your emphasis from your present job to selling real estate?
What will compel you to do the hard things in real estatea��lead generationa��when you have a safety net of your other job?
How will you have the 2-4 hours each day to lead generate? How will you have the time to show homes and market listed properties?
Do you have the guts to set a drop-dead date to change to full-time real estate?
Don’t leap into any of these positions until you really, really look. Too often, agents are choosing these positions because they are afraid of–or don’t want to do the work of a real estate agent. Find out the ‘why’ behind the rationale, and help your agents make the best choices for themselves.
A�Use this Tool to Save Time and Inform Prospective/New Agents
Managers: You don’t have time to spend hours educating those prospective agents! Instead, share my new eBook, What They Don’t Teach You in Pre-License School. (You need to have this information, too)!
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