Retention! You can become your agent’s master coach for the Shift. Rather than letting them die on the vine, take a pro-active approach to retain your good producers.
In the previous blog, we explored the power of the Strategic Situation Analysis. I gave you an analysis tool from my business planning program to make it easy for you to coach your agents in assessing their businesses. At the end of this blog, I’ve got another cool analysis tool for you to use: Analysis of your Time and Activities.
One of the mistakes many agents make is that they try to decide what to do in the future without knowing exactly what they did in the past. Then, unfortunately, they’re always guessing about what will work for them. Take the guesswork out of it by helping your agents fully analyze how they did their businesses.
Now, we’ll keep moving ahead to some conclusions from agent analysis, and we’ll start setting up good Shift plans.
What Did Agents Learn from that Analysis?
What were their best sources of leads? Were they proactive or re-active? What do they need to shift to for success now? (30% more proactive!!!!). That means to go out and find your leads; you don’t wait for them.
In the last shift market, a survey of top agents showed they spent
55% of their time in ‘seeking’ lead generation
45% of their time in ‘attracting’ lead generation
What’s your agent’s ratio?
Working Immediate vs. Long-Term Lead Sources
Does your agent need to make money now? Then, they will want to put those immediate sources (and semi-immediate) into their plan:
For sale by owners
Expired listings
Open houses
Working Best Sources of Business
For the majority of agents, their best sources of business were
Past clients
Referrals
Yet, according to a recent National Association of Realtors’ survey, less than 32% of an agent’s business came from those best sources. What percent of your agents’ business came from those best sources? What do they want it to be for 2023? What is their plan to increase business from these best sources?
Mistakes in Lead Generation
In a survey during the last shift, surveyed agents spent most marketing dollars in
Direct mail
Internet website
Print advertising
Woops! In contrast, most of their business came from
Referrals
Repeat Business
Where did your agent spend marketing money last year? How much did they spend on your best sources? What do they need to change for the coming year?
The Answers Come from Reviewing Each Agent’s Business
Based on the answers to the questions above, you can coach each of your agents to create a plan that will work to greatly increase results–now, and in 2023.
Click here to grab another analysis tool from my business planning program: Analyze your Time and Activities. It will give you great insights into the habits each agent has created that either creates results or get in the way of results.
It’s time to think about business planning. Check out my two business planning programs–one for agents, one for management. When you purchase the management program, you also get the complete agent program. You’ll get the guidance you need to make a change-ready plan. See more here.
