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Sep
26

Do Your Expectations Match Your New Agents’ Goals?

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From training and coaching hundreds of new agents, I’ve discovered that, many times, their expectations don’t match the manager’s expectations. This can cause havoc and dissatisfaction from both parties. Do you know what your new agents’ expectations for the first sale are?A�If you don’t, your start-up plan (or lack of) may actually cause the agent toA�be so discouraged he will leave your office.A� For example: Perhaps you feel that you will just give that new agent all the time he needs to produce. But, that new agent is thinking he expects to make a sale right now! Your casual attitude about his success may cause him to seek a more focused manager.

Agents’ Expectations for their First Sale

A�A few years ago, I did a very revealing survey of hundreds of new agents. (That survey is inA�my new book for would-be and new real estate agents, out soon). A�I askedA�these new agentsA�when they wanted their first sale. What do you think the majority said?A�

A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A� within their first month in the business.A�

Hit the Ground Running….or Crawling?

A�My assumption: Most agents want a sale fast. Why? They expect it, and they need it for their self-esteem. If you are familiar withA�my business start-up plan, Up and Running in 30 Days, you know I start agents right into the business soA�they can realize that sale withinA�their A�first month. This is, unfortunately, very unlike the start most agents get (they get a very slow starta��keep reading!).

A�If Agents Expect a Sale in the First Month, What Do Their Managers Expect?

A�If the new agent expects high earnings fast, what did his manager expect from him?A� I also asked that question in my survey. Most of the respondents from the survey didn’t know what their managera��s expectations were.A� 71% of the respondents didn’t know even the minimum expectations of their managers–the minimum production standards they would have to meet to have their contracts renewed the second year.

A�Why is Matching Minimums and Goals Important?

A�To assure that the new agent and manager see ‘eye to eye’, you need

  • mutual expectations in writing prior to hiring on
  • toA�share the exact business activity planA�the agentA�will be coached to
  • proof to the new agent that the plan works!

A Manager’s Honest Comment

When I was VP in charge of training for a large regional franchise, a manager called me to ask what she could do to help someone produce. The first question I asked was,A� “How long has this agent been in real estate?” The answer: One year–and she hadn’t made a sale! I asked the manager,A� “Why are you still retaining that agent?” The manager replied, “It took me a long time to make a sale in real estate and I just want to give them a chance.” How mis-directed!

What Going a YearA�without Making a Sale Means

Simply, it means the agent has not been lead generating. Short-term, if an agent has been lead generating and has not made a sale, it’s just a matter of numbers and skill. That’s coachable. But, if an agent hasn’t been lead generating–and goes one full year without a sale, it means that agent is just waiting for a happy accident.A�Agents can’t make a career on happy accidents.

The Manager Had No Idea What The Agent Had Been Doing

The manager’s game plan for the agent was ‘let’s just wait and see what happens.’ She had absolutely no idea of what this agent was doing every day to generate business. Some game plan…

Manager’s Expectations Indicate the Kind of Game Plan they Use

Because this manager had such low expectations of her agent, the manager had no game plan. She just let that agent fail for a year. I believe that’s cruel and unusual punishment!

Be sure you haveA�expectations of the agents they agree to fulfill, and that you have a game plan designed to reach those expectations–and beyond.

What are your expecctations and how do you assure it’s a ‘match’–prior to affiliation?

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