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Archive for mimimum production

In the previous blog, we talked about the ever-growing phenomenon of the ‘dual careerist’–the part-timer. I’m afraid our industry is creating short-term gain, while unwittingly also creating horrible long-term pain. What do I mean?

You see the customer ratings of real estate professionals go down dramatically. You see many agents uncommitted to the business–not because they’re not nice people, but, because they feel they can’t make a living focusing on real estate sales.

Is your ‘Hiring Part-Timers’ Strategy Hurting your Business?

I know you think you need those few sales from your part-timers. But, how much business is it costing you when one of your part-time agents doesn’t return a phone call? When they give poor advice to a buyer? When they over-price a listing? Studies show that the consumer remembers the name of the company much more than they remember the name of the agent. So, when one of your agents provides poor customer service, your reputation and image get damaged–and that hurts your business a lot.

The ‘Cure’ For your Reputation

Do you have production standards in your office? Whata��s your standard for work completed by agents in your office? Are you okay with a�?just turn in a couple of sales this yeara�?? Or, are you concerned with the consumer experience? If the consumer is paying us, we must decide what he is paying us for (and it isna��t because we use technologya��a��). Herea��s my list of valued services. Whata��s yours?

  1. Dedicated service throughout the transaction
  2. Prioritized knowledge not available just on the Internet
  3. Immediate communication and continued first-level service
  4. Exceptional negotiating skills
  5. Loyalty, putting the customer first, rather than another job first

The Internet and Agent Knowledge: Almost Neck in Neck on Consumersa�� Minds

By the way, in the CAR survey, 54% of the consumers surveyed thought the information they got on the Internet was less useful than what they got from their agent. Does that sound good to you? To me, it sounds very bad. Almost half of the consumers think the Internet is just as good as your live agent! So, leta��s get to cracking and get our agents performing past the standards we set. Why? Because the consumers have already set the standardsa��and theya��re higher than what wea��re allowing. Leta��s put the industry back on track toward pride in excellent service. Leta��s knock the consumera��s socks off with prioritized knowledge, attention to the transaction, and exceptional service. We can do it, and brokers must lead. Now.

Establish Standards–Even if They are Embarrassingly Low

Having coached many managers and owners, one of the diciest and difficult things to get them to do is to establish standards (minimum expectations) of their agents. I think the reason is that sometimes they must start low—really, really low. And, it’s embarrassing. However, you have those standards anyway–they are what you tolerate. So, establish standards from the bottom up. Later, you can ratchet them higher.

What do you think about standards? Will they help or hurt our industry?

For a document on standards to establish, click here.