How to Get Them to Fill Your Training Classroom
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Here’s how to fill your classroom with enthusiastic attendees.
This month, we’re focusing on training. Why? Because it should be a huge part of your value proposition. After all, you can’t just recruit them–can you? You need also to have a complete development system. Coaching and training ARE your development system.
Having trouble getting them to training? Authored by one of our Senior Career Coaches, Jodi Sipes, M. A., this second article of our series shows you how to market your training to attract your agents and get them excited as students! Jodia��s advanced education in adult learning, plus her years of experience creating and implementing exceptional training for new agents, gives her a unique perspective. Here are invaluable tips as you take action to control your income in these shifting markets. Youa��ll make your training an awesome recruiting tool, while making it effortless to implement training week after week.
Dona��t be Dull! Set up Themes to Pique the Curiosity and Up the Attendance
Dona��t just list the topics you are going to present. Create themes. For example: Listing month! New Year Planning! Spotlight on Buyers! Now that you have the over view of training and components put together, make sure that they compliment and support each other. For instance, when you are coachingA�new agents with the Up and Running in Real Estate program, you should have supplementary training/practice days in your office. This is also a great place for experienced agents to grow as trainersa��plus, their time will be saved, as they will teach everyone at once, instead of having a bunch of new agents knocking on their door with questions all the time.
Get Creative! Give it a Provocative Title
We see lots of training calendars in our training consulting. Most of them are dull as old brick! Dona��t just list the topic. Instead, get creative. Make the topic interesting, even provocative. Put a new a�?spina�� on the topic. For ideas, read the names of programs given at your state and national conventions. Some of the topic names are really creative!
Give it a Double Punch for Double Learning
Dona��t just teach the curriculum. Find ways to expand that subject from all the angles. For example: When you have a new agent training section on listing presentations you should have a top Realtor from your office give a demonstration on an effective listing presentation or an effective CMA. When you work with Buyera��s presentations, have a lender come explain the issues and requirements Buyera��s face. Lead follow up and business planning create a good time for software vendors to show their programs. Marketing sections offer an opportunity for affiliates to show how they can support agents, and for vendors to show how their products can support agents. These supplementary classes are great for all agents of all levels.
Alternate Formal with Casual for the Unexpected
Ita��s also great to incorporate casual (brown-bag luncha��agent a�?Rapa�? session) support groups to encourage agents to share their ideas and frustrations. This creates a a�?teamworka�? feel to your office, and helps agents through current challenges. When the manager shows up at these for the first part, agents can get their questions answered in a format that answers these for many agentsa��saving the manager time!
One of your Biggest Problems Solved: Getting them to Attend Enthusiastically
Here are 3 surefire ways to get your agents to attenda��and get recruits to attend, too!
1)A�Leverage Affiliates
Title representatives, mortgage brokers, escrow companies, home inspectors, and others can support your training calendar by adding lunches and other incentives to improve attendance. The best benefit is that this is a win for everyone, and forges bonds between agents and affiliates. The benefit for the affiliate: they get in front of your agents and get to know thema��building trust. The benefit for the agents: they get hands-on training from people who are a�?out there doing it now,a�? and they get to know a variety of affiliates so they can decide if they would like to do business with them.
2)A�Create Positive Expectations for their Accomplishments
For new agents, create a booklet that details all the classes you expect them to attend in their first year. You can use this to set mutual expectations at the time of hiring. Check off each class as they complete it, and celebrate their growth! Everyone should celebrate when they get their first listings and sales, too. The booklet helps them keep it all straight, and is a tool for you to keep track of their progress, as well.
3)A�Be Lavish in your Recognition/Improved Performance
Have drawings or special prizes and recognition at meetings for the agents who grow to a new level through the office training. Use their testimonials when you market the classes to your agents. When an agent admires the performance of another, they will want to model what they do.
Remember that putting together world-class training is a process, and will not be all you want it to be right away. It takes planning, support from your agents and affiliates, and time to catch on and develop. You can grow and improve each year!
We are here to support your agent development systems. Talk to us about coaching you in developing world class training. Youa��ll go further faster, and have time to do all the other management duties you know you should be doing!
Are You RecruitingA�Winners–or Bodies?
Let us help you create a recruiting plan that works. Then, we’ll help you career complete Career Development Systems for both new and seasoned agents. Now, you have systems. You can expand. you can relax a little. Why not check outA�Leadership Mastery CoachingA�with aA�complimentary consultation?
Why don’t you have a training calendar? Here’s how to get one now.
This month, we’re focusing on training. Why? Because you can recruit your heart out, but, if you’re not developing each agent to his/her potential, you’re not retaining! (and you have a revolving door……)
Guest Author, by Senior Coach Jodi Sipes
Authored by one of our Senior Career Coaches, Jodi Sipes, M. A., this blog shows you how to create a training calendar youa��re proud of. Jodia��s advanced education in adult learning, plus her years of experience creating and implementing exceptional training for new agents, gives her a unique perspective. Here are invaluable tips as you take action to control your income in these shifting markets. Youa��ll make your training an awesome recruiting tool, while making it effortless to implement training week after week.
Why bother to create your yeara��s training calendar? With managers running in 50 directions at once, time management is a huge issue. Designing a training calendar allows managers to get their systems under control. It allows managers to delegate some training duties. Outcomes: More production, more profits, and better retention!
Your First Step in Creating that Calendar: Get the Rhythm
Before you try to create that calendar, consider the rhythm of your year. When do you hire the most agents, when is the market busiest, what seasonal issues do you want to address? For example, youa��ll want to decide when is a good time to focus on listings, what issues come up at tax time, etc? This will give you a good over-view of how to plan your education and training.
Your Second Step: Decide the Major Issues You want to Train To
Now, ita��s time to decide this:
If there were one thing my agents could do better that would raise productivity more than any other single thing, what would that be?
Answer that question, and youa��ll get the major issues handled in that calendar. For example: If you have an office with many new people, you probably have fewer listings than youa��d like. Or, your listings may be sitting in your shifting market. So, a major part of your calendar will be high-activity training to the listing process, focusing on getting marketable listings. A major mistake managers make in creating calendars is to merely drop in whatever they think agents would like! Dona��t do that. Youa��re in control, and you need to train to the outcomes you needa��and should expect.
Your Third Step: Make a System for New Agents
If you are hiring brand-new agents you will then need to schedule for them:
a�? Recruiting/hiring group informational events
a�? Orientation (Office equipment, your brokerage procedures, meet affiliates, etc.)
a�? New agent education (how to fill in forms, how to complete quarterly taxes, etc.–this should be in sync with MLS and Realtor Association training) At Carla Cross Seminars, Inc., we call this a�?Technical Traininga�?.
a�? New agent start-up plan/coaching sequence so they go to work the first week. Our start-up plan and coaching companion is Up and Running in 30 Days.
a�? New agent skills training and practice/support sessions (how to answer objections, qualify buyers and sellers, etc.) Our complete training/coaching high accountability system for this is Advantage 2.0.
To assure youa��ve covered the right bases, ask yourself about your desired outcome: What do you want your new agents to know, and be able to do in their first year?
Your Fourth Step: Make a System for your Experienced Agents
Here are some of the training issues you will want to consider:
a�? Sequence of business-building training (taking them to the next level)
a�? Yearly planning and Goals (this should be done in November of the prior year)
a�? Keeping them up-to-date on the law and technical issues (required classes, new forms, legal issues, new developments like more condos in the area or re-zoning)
a�? Life-style enhancement (time management, hiring an assistant, etc.)
a�? Train the Trainer class and opportunities to teach if they enjoy giving back to others (this is a great retention tool)
I know–it’s a big commitment. But, when you have your training systems fully in place, and you start measuring results, you’ll see the fruits of this labor.
Click here to grab my sample new agent training calendar.
Why Not Make It Easy On Yourself: Up and Running is Done for You!
It takes me a year+ to write a training program, and I’ve done it several times! How long will it take you to write a program? Why reinvent the wheel? It’s enough to expect you to coach those in a program, not write it, and teach it in addition! Check out my comprehensive, high accountability,A�training/coaching programA�for agents under 2 years in the business. If you want to get them started fast, and are willing to coach them to the program, you’ll love the results. See itA�here.
Trainers: Is Your Training Really a ‘Hot Mess’?
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Trainers: Is your training really a ‘hot mess’?
This month, we’re focusing on training. Why? Because you can recruit your heart out, but, if you’re not developing each agent to his/her potential, you’re not retaining! (and you have a revolving door……)
Doing Everything Wrong? Or Right?
a�?Oh, no. Ia��ve been doing EVERYTHING wrong!a�? Thata��s what one of my attendees groaned after I explained the training calendar evaluation tool I created to help trainers assess their training programs. Too often, I see training programs thrown together from various cobbled (and ripped offa��.) sources. Sure. You can do that and call it your training program. But, it makes for a disjointed, shattered a�?picturea�� of your company and culture. And, it doesna��t work to get what you wanta��more production and profits.
Here, I want to share an analysis tool I created that will help you see the good and challenging parts of your training program and tune it up to really make a difference in your company.
Do You Really Have a Training Program?
When asked this question in a National Association of Realtorsa�� survey, the majority of the brokers said they did have a training program. But, what does that mean? What does it encompass? How would I know you had a real program? Here are the three questions to ask yourself to see if you really have any type of cohesive, coherent training program focused on the results you want:
1. Is your training program a part of your business plan?
2. Have you created a training calendar so you know what youa��re doing and when youa��re doing it?
3. Could I look at your calendar and see exactly why you had scheduled those eventsa��and that they had cohesiveness to your a�?big picturea��?
Evaluate your Training Program Now
The training calendar evaluation tool I mentioned above is invaluable to see how effective your training program really isa��and to target the changes you want to make so youa��re training with purpose.
At the end of this blog, Ia��ll share it with you. First, leta��s walk through it.
What Kind of Training Are You Offering?
Look at your training calendar. If you dona��t have one, simply take a 3-month calendar and write in the training youa��re providing.
Whata��s the ratio of business-producing vs. business supporting training modules? When I see some training calendars, I can see why their training is not increasing productivity. All their modules are concerned with business supporting subjects (technical knowledge): home inspections, the law of agency, websites, social media, etc. Thata��s all nice, but what does it directly do with creating productivity? Herea��s the path to a sale:
Lead generation
Interviews/qualifying buyers and sellers
Listing homes/showing homes
Selling a home/listing sellsA�A�A�A�A�A�A� $$$$$$$$$$$$$$$$$$$$$$$$$
If you want to increase productivity and profits, your training calendar needs to reflect your training in these business-producing areas.
What are you training to that will make a real difference in your productivity and profits next year? Put that in your business plan.
What Does Your Profit and Loss Statement Tell You to Train To?
Take a look at your P and L. Whata��s your ratio of listings sold to sales? Do you like that ratio? Would you like it to be different? Do you want more sold listings? If so, start training to that. When I took over a failing office, I saw the ratio of listings taken to listings sold was a miserable 30%! So, I started action-focused training on the whole listing process. I had them role-playing their hearts out. I did a listing presentation play-offsA� In short, I trained them specifically to change that ratio for the better. By the end of three years, our a�?conversiona�� ratios were 85%–the highest in the area.
What is your training accomplishing? What do you need it to accomplish? Want can you measure?
Who Are You Training?
We segment our markets when we design our marketing plans. We need to segment our a�?marketa�� for our training plan, too. In this case, our a�?marketa�� is our agents. When I ask seasoned agents about whether there is a training program in their company, they say a�?yesa��. Ita��s for the new agent. What? Are those seasoned agents in the office chopped liver?
Click hereA�to grab the training calendar evaluator.
Tell me: How would you rate your training, on a scale of 1-10, 10 being fantastic? What can you do to improve it?
Tip: See my resources on training and writing courses at www.carlacross.com.A�
Trainers: How to Make your Course ‘Teachable’
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Trainers: how to make your course ‘teachable’.
Here are some tips on how to gain focus on that great course you want to create–that course that’s been bouncing around in your head for years! In my next few blogs, I’m going to give you some specific tips to make your course truly ‘teachable’. Why? From teaching for over 2 decades, I’ve found many courses are not actually very ‘teachable’. In fact, they are either
1) Streams of consciousness
or
2) Information dump
If you’ve picked up someone else’sA� ‘course’, and tried to teach it, I’ll bet you know what I mean. Unfortunately, too many times, courses are written from an ‘information organization’ perspective, not a teaching perspective. In fact, because so many instructors have expressed frustration, I’ve just finished a resource on how to write a course.
Gaining Focus for your Course
Let’s look at the 6 W’s that you should answer before starting to create your course: TheA�What, Why, Who, When, Where, Whata��s NextA�of your course, so you can clarify what you want to accomplish and gain focus. As I give you these, take time to answer each of these questions.
A�WhatA�course do you want to create?
Take a moment and write exactly what is in my mind (and heart) about this course. Ask yourself, “Is this actually a course”? Or, is it your desire to persuade people to your point of view? That’s certainly okay in a course, but not as a whole course. Instead, you have a ‘persuasive presentation’. Sometimes we want to impart our beliefs to people or make them ‘be’ in some way, but that’s not a course. (Be responsible, be customer-service oriented, etc.) Now, it’s true that can be one of the objectives of a course, but, just getting in front of people and telling them how they should be won’t make it as a course!
Do you see this course as an overview?A�A�A�A� An introduction?A� Comprehensive?A�A�A� A series?
Why?A� What are your compelling reason(s) to create this course? Be sure it’s not just all about you….
WhoA�is this course for?A� What segment of the population do you want to address? One of the mistakes we make is not narrowing our focus to the level of expertise of our desired target audience.
What is their level of learning in your topic right now?
Who would not benefit from your course?
Do you need to narrow your scope for this course?
WhereA�(type of delivery)
Is this course ‘live’? Is it distance learning? Will it be given as a webinar? Your decisions will direct you to the delivery methods (how you will teach).
Armed with the answers to the 6 W’s, you can gain a laser focus for your course, and go to the next step of course creation.
Expert Guidance to Write that Great Course!
If you’re serious about writing that great course, this is the resource for you. Step by step, Carla Cross, who has written courses for Re/Max, Better Homes and Gardens, Keller Williams Realty, GMAC, Royal LePage, and CRB, shows you exactly how to create your course and your outline. And, for those Washington state instructors, she shares tips on how to get your course approved for clock hours.
This resource is digital. You will get access immediately.
Introductory bonus: Keys to a Killer Introduction
Includes:
2 instructional videos
Templates to use as guides for course creation
Examples of courses
2 ‘cheat sheets’ to write your course modules
Guidance in how to get your course approved in Washington state.
With 95 pages, this resource, along with the 2 instructional videos, shows you exactly how to create a course that has substance, sizzle, and ‘sell’!
Thank you for a wonderful class on writing a course. This practice and hands on class has given me the confidence and tools I need to move forward with my course curriculum. I feel I have been given a business race car and I can move forward towards my dream of training agents across the country. A�Mary Lee, former head of training for Windermere Real Estate, Spokane, Wa.
JustA� $129.50 A�A�Click hereA�for more information and to order. You’ll get immediate access to the 95-page resource guide and 2 instructional videos. Plus–a bonus: Keys to a Killer Introduction.A�
A�
Trainers: More ways to teach effectively than you can name! (42)
Do they snooze when youa��re in front of them? Do their eyes slowly closea��and then blink open when theya��re startled by something you do in the cla
ssroom? Do you feel frustrated when you cana��t keep their attention?
The solution is simple:A�Gain more teaching skills.
Sounds easy, doesna��t it? But, the most difficult thing for us adults to do is to gain new skills. Instead, we tend to try to purchase competency (invest in software, programs, and a�?thingsa�� that supposedly do the work for us). But, in this case, all the PowerPoints in the world cana��t overcome a boring presenter!
You Can Expand Your Teaching Repertoire
Did you work to put yourself through college? I did. I found out it was much easier to put my talent to work and get paid, than to pick beans! So, when I was nineteen, I got a job playing piano in a bar. (Boy, did I learn about human nature).
When I was tickling the ivories, playing my way through college and graduate school, I noticed that, the more tunesa��and styles–I mastered, (that’s the repertoire), the more tips I made. I could please more of the people more of the time. Ita��s the same way with teaching, or doing keynotes, or presentations, or facilitation. The more skills you hone, the easier it is to be effective in front of people.
Most Presenters Know Just One Tune and Style
Most of us who present start by getting in front of people, and naturally doing some things right. We get acceptance. We get acclaim. We find wea��re good talkers in front of people. In fact, most people think that refining presentation skills are merely a function of
talking better.
So, we try to talk better. But, then, we hit our a�?ceiling of achievementa��. We cana��t seem to get any better. Then, we get frustrated. We try harder. That doesna��t help. Sometimes we look for someone who can help us a�?talk bettera��. We take a class thinking that someone will make us titillating on the stage. The interesting thing is thata��ita��s not the answer for most of us.
Gaining Other Presentation Skills
Sure, there are a myriad of presentation skills that help us in front of audiences. We can speak slower, speak more clearly, pause more effectively, use our bodies more effectively.A� But, in addition, there are teachingA�methodsA�that increase the effectiveness of our presentations. These include
Crafting of the presentation
Audience participation
Use of visuals and props
How good are you at these teaching methods? Do you tend to rely on the good old stand-by, lecture? A�If so, youa��re boring your audiences to death!
A Great ‘How to Teach’ Course Will Help You
I teachA�Instructor Development WorkshopA�in the state of Washington. This fulfills a requirement for instructors to teach clock-hour approved courses in the state. So many times, people come into the class wanting me to a�?fix thema�� so they will be fascinating in front of people. What I have to do is to teach them all those other methods to teach effectivelya��skills they can learn and master. Ita��s interesting to watch their paradigms switch from a�?make me another Johnny Carson or Don Ricklesa�? to a�?Ia��m grasping great teaching methods that work for me.a�?
To see my upcoming course, coming up Oct. 5-6,A�click here.
Those 42 Teaching Methods
One of the things I do in Instructor Development is to demonstrate to students many teaching methods. Then, we a�?take it aparta�� and talk about how they would apply these methods to their own situations. Ia��ve developed a list of 42 Teaching Methods to summarize the course.
Click hereA�to get it.
Bring Skills to Your Company or Association
Want me to come toA� your company or association and teach these methods? Ia��ll customize the subject matter to match what you need. I believe training is major answer to our industrya��s offering value for services, and I can help you create great trainers and effective training.A�Click hereA�to contact me, and wea��ll talk about your needs.
Presenters: Ready to Do a Webinar? Expand your Horizons!
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Presenters: Is there a webinar in your future?
This month, I featuring training.
Is a webinar in your future? Everybody and their brother are doing webinars. I am doing a a�?livea��A�Instructor Development Workshop, and there isA�interest in webinars each time I do this course. So, I thought Ia��d write a blog
about them. Here goes. Enjoy!
Should you become a webinar a�?mavena��? If youa��re a
- Trainer
- Coach
- Manager
- Team leader
- Salesperson
you may want to consider the a�?delivery methoda�� of a webinar. What can a webinar do for you? It can
- Inform
- Introduce
- Sell
- Increase your image
WhatA�cana��tA�a webinar do? It cana��t
Change peoplea��s behaviorA�(ita��s not training. Ita��s education). Webinars are not the magic training bullet wea��ve wished for. There are limited objectives you can accomplish by doing a webinar. (Wea��ll investigate this more later).
Of course, the upside of a webinar is that
- People dona��t have to travel to get to the a�?eventa��
- Ita��s very cost-effective
- It puts you in front of new audiences
- You can make it a�?evergreena�� (record it and share it)
Some Basic Choices to Make Before You Start
- Your vehicle
Which company will you use to deliver your webinar? There are over 100 companies today offering some type of a�?screen sharinga��. They range from free to $100+ a month. The free versions companies tout are for a limited number of viewers (usually 5-10). After that, figure on paying for the services. Among the most popular services are GoTo Meeting, WebEx, and BrightTalk. Whatever you choose, pick a service that will be easy for you! Getting caught in the technicalities while you are trying to be a sparkling presenter is death by webinar.
- Whata��s your message?
Decide on your topic. Is it something that would lend itself to a webinar? To find out, study webinars you’ve attended. Do some seem too wishy-washy to have been worth your time? Are some so full of facts and figures you snooze off?
Now, decide on your objectives. In other words, start with the end in mind. To write your objectives, start with this sentence,
As a result of this webinar, attendeesA�will____________________________. Examples of objectives for a business planning webinar could be:
- Understand the a�?flowa�� of the strategic business planning process
- Be able to differentiate between a vision and a mission statement
- Be able to pinpoint 3 areas of concern about their business from the previous year
After Ia��ve written my objectives, I know the basic structure of my webinar. I can prioritize those objectives and start arranging my webinar in the right presentation order.
Your Topic: Overview or Detailed?
Is your topic an overview, or is it more detailed? Decide on the scope of your topic, and your objectives, before going further.
Common webinar mistake: Either being so a�?globala�� there is little information, or being so detailed you lose the audience in facts and figures.
After deciding on your desired delivery company, and drafting your topic and objectives, you’re ready for the next step. In the next blog, we’ll discuss best presentation methods–and common presentation mistakes.
A Resource for You
To get more information on creating courses with objectives, seeA�The Ultimate Real Estate Trainera��s Guide.A�Not only for real estate presenters, this guide provides a step-by-step process for putting together a presentation (not just webinars), and dozens of presentation tips.
When You’re Presenting: Are They Awake AND Interested?
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When you’re presenting: Are they awake AND interested?
I’m featuring training this month.
If you’re presenting in front of 2 or hundreds, you must wonder at times whether your delivery is interesting. Too often, we drone through the subject, stop to tell a joke or two, and just trudge through the trenches of information until the clock tells us to stop!
Are your students nodding off as the day goes on? Do you frantically wonder how to keep their attentiona��all day? The answer is not what you think it is. Last week, I taught my Instructor Development course to real estate professionals and affiliates. Ia��ve taught this course for about fifteen years. Herea��s the biggest mis-conception students come in with:
If Ia��m just learn how to be a more captivating speaker, I can keep the studentsa�� attention for hours on end.
NOT! In todaya��s frantic world, the person in front of everyone cannot hope to hold studentsa�� attention for more than 10 minutes at a time! If you think Ia��m wrong, just count the number of commercials in a TV break. These commercials are down to about 15 seconds apiece. The images go by so fast you can scarcely count them. In fact, wea��ve become a society of easily distracted, multi-tasking, not very focused beings (watch pedestriansa��or driversa��in action with a cell phonea��..).
The Focus Doesna��t Have to Be On You at All Times
So, what are you going to do to a�?holda�� studentsa�� attention? You are going to implement some teaching methods called
alternative delivery methods
Alternative delivery methods: all those methods used to teach that are NOT lecture. Examples: Town hall, task force, case study, role play, action plan.
Give your Students some Credit
People who lecture their way through a day (or days!) either
- Just dona��t have any repertoire of alternative teaching methods
or
2. Just dona��t think the students can be involved with theirs and othersa�� learning
How to Teach through Student Involvement
Instead of talking through each point you have on your PowerPoint slide or in our outline (boy, is that riveting!), use town hall, task force, case study, and role play to teach. To do that, youa��ll need to take an Instructor Development course to learn those methods, and practice using them in class.
Note: My next ‘live’ Instructor Development Workshop will be in Bellevue, Washington, Oct. 5-6, 2017. Click here for more information and registration. This course satisfies the requirement to teach clock hour courses in Washington State, and carries 15 clock hours.
Youa��ll find your students know much more than you think they do about what youa��re teaching. Youa��ll be able to clarify points of concern, use the talents in your class, and actually provide a stimulating, active learning environment. The result: your students will be energized all day.
References:A�Here are two training tools for those who want to present and train more effectively:A�Knock Their Socks Off: Tips to Make your Presentation the Best Ever,A�andA�The Ultimate Real Estate Trainer’s Guide.A�Find them atA�www.carlacross.com.
Trend: Marketing to Segmented Real Estate Markets
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This blog addresses another one of the 10 trends I’ve identified in the 5th edition of Up and Running in 30 Days.
This trend addresses segmentation: It’s no longer effective to market the same way to everyone. And, it’s no longer okay to try to appeal to all client segments. Even if you choose 3-5 segments, you must learn to speak to each in its own language.
This month, I’m featuring excerpts from this book. As a manager, read the thoughts on segmentation and ask yourself, “Am I teaching my agents how to identify their best markets? Am I helping them segment and market to that segment?”
{Click here to see the updates in my fifth edition of Up and Running in 30 Days.}
Now: Four Distinct Segmentations of Buyers
As a new agent, I know youa��re just concerned about finding someone who wants to purchase or sell a home! Yet, leta��s think past just that. There are now four distinct segmentations of buyers (meaning those who want to buy our services of buying or selling a home). As you think about these distinct groups, ask yourself, a�?How do I have to adjust my selling style, my technology, my communication, and my expectations for each of these distinct groups? Which groups will I naturally relate to?a�?
- Traditionalsa��those older baby-boomers who are retiring
- Baby-boomersa��getting ready for retirement, these folks make up the second largest buying population and have the greatest assets
- Gen-Xa��these folks have purchased first homes, but because of the housing bust, hadna��t been able to move up
- Millennialsa��(Gen Y) first-time home buyers, typically looking for affordable housing, such as condos, co-ops, and so on
In the National Association of Realtorsa�� 2015 report, Home Buyer and Seller Generational Trends, Gen Y (millennials) comprises the largest share of home buyers, at 32%. This trend will continue, as their large numbers combined with improving personal financial conditions will enable these buyers to move the market. Gen X has the largest share of first-time sellers at 68%. Read this report to see buyer and selling habits of these various a�?targeta�� (segmented) markets, and choose your markets carefully.
- Positives: If you are able to adjust in the areas mentioned here, you can relate and sell to more people. To be successful, you must be flexible and sensitive to these differing needs and desires.
- Watch out for: Dona��t try to lump all these needs into one. The average real estate agent is in his 50s; the average buyer is in his 30s. Also, minorities will account for many more clients in the future, yet minorities are a small part of the real estate community. In many areas, buyers are frequently more tech-savvy than agents (thata��s generally true in the Seattle area, where I live, because of MicrosoftA� and related businesses). Also, agents tend to work the market as theya��ve known it. They are relating to the past, rather than accessing trends and working the market theya��re given. Be sure to stay updated on where the market is going (your manager is a great source of this information).
* Big Idea: One size fits all is no longer applicable to real estate sales. Agents must specialize in each of the niches they want to serve.
Trend: Teaming–Advantages and Disadvantages
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Trend: Teaming–advantages and disadvantages.
These trends are from my new 5th edition of Up and Running in 30 Days.
This month, I’m featuring excerpts from this book. As a manager, read the thoughts on teaming and ask yourself, “Am I supporting teaming? Do I have enough control over my teams?”
{Click here to see the updates in my fifth edition of Up and Running in 30 Days.}
What is ‘teaming’?
It is affiliating yourself with a a�?rainmakera�? agent, an agent who will deliver leads to you, for which youa��ll pay a portion of your commission. Youa��re teaming up with that agent to do the work that the rainmaker agent doesna��t have time to do. First, teaming doesna��t mean partneringa��two agents working together. If you join a team, you are working for that rainmaker agent.
Generally, agents who grow teams have been in the business at least a few years. Theya��ve developed a large business. To grow their businesses, they need to a�?duplicate and delegate.a�? So they hire assistants and buyersa�� agentsa��agents who work with buyers the rainmaker agent has generated. Many times they hire new agents and train them in their methods.
How Joining a Team Can Help a New Agent
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, however. 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.
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Positives of teaming:
- You may be able to jump-start your career with leads given to you.
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 rainmaker 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.
Is he or she a leader?
Evaluate how good a leader that rainmaker is. Some rainmakers are great salespeople but lousy leaders, and so their team never gels. 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 membership seriously.
* Big Idea: If they arena��t your leads, youa��re starting the real estate business all over again when you leave the team.
Question: Have you thought about joining a team? Or, if you joined a team, how did it work out?
Are You Using the Best Start-Up Plan for your New Agents?
Does your plan have the detailed, prioritized checklists needed to assure a great start? Does it have built-in inspiration and motivation? Does it have dozens of tips to control the attitude? If not, you need Up and Running in 30 Days. Just out in its 5th edition, it’s the most successful book for new real estate agents ever!
Click here to see the updates in my fifth edition of Up and Running in 30 Days.