Archive for profits
How Good is Your Agents’ Start-Up Plan?
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How good is your agents’ start-up plan? (Or, do they have a start-up plan?!)
This month, I’m featuring excerpts from my new 5th edition of Up and Running in 30 Days.
{Click here to see the updates in my fifth edition of Up and Running in 30 Days.}
You know what your training will do for you. So I hope you are convinced you also need to implement a business start-up plan to put all that information in perspective. But watch outa��there are more poor ones than good ones out there. As a CRB (Certified Real Estate Broker) instructor for 12 years, I taught thousands of owners and managers nationally. I saw plenty of poor plans managers shared with me. (These were the plans they were giving their agents, too.)
Commonalities of Poor Plans
- They are laundry lists of busywork activities interspersed with activities that actually make you money, so the agent doesna��t get any evaluative perspective to self-manage.
- They do not prioritize lead-generating activities, so the agent thinks all types of lead generation have equal payoffs.
- They do not have methods of setting goals, keeping track of results, and analyzing results to make changes quickly. (Up and Running provides sales ratios so you learn how many specific actions it takes to get the results you want.)
- They do incorrectly prioritize actions. For example, as a high priority, they direct the new agent to a�?see all the inventorya�? before doing anything else. The rationale is that ita��s very important to see all the inventory to build a knowledge base. It is important, but only as it relates to working with buyers and sellers. (Ita��s the means, not the end.) But new agents dona��t want to do the high-rejection, high-risk activities such as talking to people. So they gladly see all the inventory until it becomes their job descriptions!
- They do include plenty of a�?busyworka�? as equal priority to lead generatinga��such as a broker having an agent visit a title company to learn how it operates. This keeps the agent busy and out of the brokera��s hair! Also, the new agent loves the broker for a while, because the broker isna��t asking the new agent to do those high-rejection activitiesa��those activities that lead to a sale!
Bottom line: No would-be successful agent in his right mind would continue doing this type of plan any longer than he had to, because the successful agent recognizes the plan is a poor one.
* Big Idea: Be very critical before you commit to any start-up plan. It is prioritizing your mind! The start-up plan you may love because it keeps you out of sales activities isna��t the plan that is going to love you back (get you the sales you want). What you do every day becomes your job description.
An Effective Start-Up Plan
Here are the six attributes of an effective business start-up plan:
- Does not give equal weight to all activities
- Provides an organized activities schedule with certain activities prioritized first because they lead to a sale (in Up and Running, these are called a�?business-producinga�? activities)
- Includes an organized activities schedule with certain activities prioritized seconda��and explaining why (In Up and Running, these are called a�?business-supportinga�? activities)
- Provides a road map for a continuing plan (remember that a�?plan for lifea�??)
- Builds in the a�?whya�? of the plan structure, so you learn to self-manage
- Has a method to measure and make adjustments in your plan as you progress
- Has a coaching component, so someone can coach you effectively to the plan
Managers/trainers: How well did your start-up plan score? Why not try using a proven plan that gets much better results faster? You’ll increase your retention and your profits!
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.
Why Brokers Who Think a Failed Agent Costs Them 0 are Wrong!
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Here’s why brokers who think failing agents costs them 0 are wrong. Yes, many brokers tell me that unproductive agents don’t cost them a thing.
But, A�most brokers dona��t realize they are doing irreparable damage to their companies by hiring those who arena��t going to go right to worka��and keeping those who wona��t work. Here are the 3 biggest consequences to poor selection I see.
1. Stops you from hiring great producers. Likes attract. How can brokers hope to hire that great producer when they have more than 10% of their office as non-producers? I can see it now. a�?Sure, Ia��ll come to your office. Ia��m a top producer, and I just love to be dragged down by those non-producers. It will be my pleasure to waste my time with them.a�? Not.
2. Kills your recruiting message.
Do you have a training program? Do you use it to recruit? Herea��s the real message: a�?We have a training program. All our new agents go through it. We dona��t get any results from the program, so it really doesna��t work. But, join us.a�? You cana��t possibly show how successful your training program makes your agents because your training program cana��t possibly get resultsa��poor people in and no actions and accountability required.
3. De-motivates your agents to provide referrals to you.
Your outcomes and hiring practices speak more loudly than you could possible speak. Why would one of your good agents possibly refer someone to you when your good agent doesna��t see those you hired starting right out and making money fast?
If Your Market’s on Fire, You May be Kidding Yourself
In a fast market, a�?accidental salesa�� buoy poor agents and make them look as though they were actually selling enough real estate to be a a�?mediana�� agent. But, be aware: When the market turns, so do the agentsa�� a�?miragea�� of decent production. So, it’s best toA�hire with purpose (using a stringent, professional interview process). Then, A�put agents right to work with a proven start-up plan.
Please Tell Me What You Think
What do you think a non-productive agent costs the company? In my next blog, Ia��ll give you some line items that will probably double what you think a bad hire costs. Leta��s see what you think first. Poor hiring practices really, really hurts brokersa��both financially and emotionally.
Are You Hitting your Ceiling of Achievement?
You encourage your agents to get coaching. Or, perhaps you coach them. You know how important having someone ‘see you from the outside’ is. But, how about you? Are you going it alone? I know, from managing so many years, it’s a lot lonelier world
than being an agent. Who do you bounce ideas off? Who do you trust as your mentor? Check out Leadership Mastery coaching today.
Sign up for a Complimentary Consultation to see if Leadership Mastery would benefit you. What do you haveA�to lose?
Bonus for new coaching clients this month: $1000+ of Carla Crossa��s recruiting, training, and coaching resources FREE ! Includes:
The Complete Recruiter, at $129.95 valuea��the strategies, planner, and dialogues you need to recruit winners
Your Blueprint for Selecting Winners, a complete interviewing guide, a $79.95 valuea��free.
Recruiting Objection Busters, scripts and dialogues to counter the toughest recruiting objections, a $40 value
Business Planning for the Owner, Manager, and Team Builder,a $100 value
Operations/Orientation Manuals and Checklists, a $30 value
Coaching Companions to coach new or experienced agents, a $200 value
Advantage 2.0 facilitator guide, a complete training program (a $500 value)
Click here to learn more about Leadership Mastery Coaching.
Click here to schedule a complimentary consultation to find out more about the program, ask questions, and see if ita��s a a�?matcha��. After your consultation, youa��ll receive a a�?thank youa�� of a 2-pack management audio CD series.
The Fourth Foundation to Profits: Teamwork
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From working with dozens of real estate owners and managers, and as my position as a CRB (Certified Real Estate Broker) instructor for twelve years, I’ve had an opportunity to see exactly what makes a company profitable–in the long run. So, this month, I’m sharing what I’ve found to be the critical pieces of the puzzle that lead to sustainable profits. I’ll spotlight the 4 foundations you have to have to be exceptionally profitable–no matter your economic model. Actually, I’ve come to these foundations by observing how companies fail to be profitable over a period of time without these four foundations. In each of these blogs, I’ll spotlight one foundation. The fourth is
Teamwork.
Go It Alone vs. Teamwork
a�?I work alone.a�? a�?I dona��t need to be a member of a a�?teama��a�?. Wea��re heard that for years in the real estate industry. Yet, the strongest, fastest-growing real estate companies have team building as part of their cultures. Agents who want to expand their businesses create teams. So, TEAM is no longer a four-letter word. The importance and implementation of leadership through teamwork and synergy is back in style in the real estate industry.
Why Building a Strong Team is Important to Agents AND Management
As with all industries, the real estate industry is evolving. Wea��ve gone through the a�?go it alonea�� phase. Because wea��ve gotten more sophisticated in business. We realize that no one succeeds alone. We understand now that people working together create something more substantial than the sum of the parts. In addition, with the challenges in the business, we finally get that many minds focused on the same task can accomplish much more than each person working as his own little island. Supporting this trend, strong company cultures have emerged which encourage and reward teamwork instead of solely independent achievement.
Franklin D. Roosevelt said, a�?People acting together as a group can accomplish things which no individual acting alone could ever hope to bring about.a�?
If youa��ve ever played on a sports team, you know the chaos that ensues when every player tries to be the stara��to go her own way. Thata��s not a team. Thata��s a group. You may also know the joy of playing on a team that shares a common focus and commitment to excellence. What a difference! What if you could bring that into your real estate office or your agent team?
In my next blog, I’ll discuss the 4 principles to develop teamwork.
Do you have a team? Or, do you have a group?
Who Helps You Step Up to the Next Level? Who Helps You Create that Team?
As owners and managers, too often we feel like we’re ‘on our own’. Yes, we have the company–if we’re in a franchise–but, who’s really looking out for you? It must be YOU. Yet, few leaders have coaches. At the same time, we urge our agents to get a coach…….if you’re wondering whether coaching is for you, why not investigate our Leadership Mastery Coaching program? It’s true one-on-one coaching–no cookie-cutter or set topic approach, because you’re seasoned, you’re knowledgeable, and you’re unique. Carla Cross is a ‘coach’s coach with a winning background as a turn-around leader. Why not find out more in a Complimentary Consultation? Click here to arrange.
The Third Foundation to Profits: Accountability
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From working with dozens of real estate owners and managers, and as my position as a CRB (Certified Real Estate Broker) instructor for twelve years, I’ve had an opportunity to see exactly what makes a company profitable–in the long run. So, this month, I’m sharing what I’ve found to be the critical pieces of the puzzle that lead to sustainable profits. I’ll spotlight the 4 foundations you have to have to be exceptionally profitable–no matter your economic model. Actually, I’ve come to these foundations by observing how companies fail to be profitable over a period of time without these four foundations. In each of these blogs, I’ll spotlight one foundation. The first is
Vision–do you know where you want to end up, and have you communicated it and gotten the team on board?
The second,A� is standards. Do you know what you’ll put up with–and what you won’t? Do you have production standards (the minimum someone can do and stay with you….)
If you don’t have those foundations, you aren’t leading. You’re just managing. And, in a fast market, you can get away with that. But, if market conditions aren’t sweeping your office forward, you need to step up to these 4 leadership foundations.
The Third foundation: Accountability
You can have vision and standards, plus goals–but, if you don’t hold yourself and others accountable to them, nothing changes.
You’ve heard all this before (or you’ve said it): a�?I dona��t need a coacha�?. a�?Ia��m accountable to myselfa�?. And, you should be. But, none of us are able to move forward and break through those barriers to achievement at times–without a coach to be accountable to. How do I know that? As a long-time professional musician, I know that we need someone to show us around our barriers. We need someone to help us set those goals AND move toward them.A� No great performer ever is so naA?ve to believe he can coach himself. You just can’t see what you’re missing! Look what happened to Michelle Khan, the ice skater, when she decided she could coach herself? A downward spiral, which resulted in lowered self-confidence and self-esteem. It was a long climb back for her, too.
Deadlines to Get it Done
The biggest plus of having a coach is that the coach sets deadlines with you for accountability. The second biggest plus is that the agent/client gets the positive reinforcement all motivational studies show is absolutely critical for higher goal attainment. If you want your agents to produce more, hold them accountable for that production. The third plus is that the coach offers suggestions in how to get there and reinforces what he/she knows will work. So many times, I’ve thought intuitively that a particular strategy was right. But, I gave it up because it wasn’t reinforced by a coach (or by anyone). And, it takes a long time to see your efforts work (just think about recruiting!).
Your Biggest Value to Your Agents
What do you think it is? It’s not things. It’s actually invaluable. It’s what you can do to help them develop the best career they can have. And, that is through coaching and accountability.
How do You Learn How to Coach?
Be coached by the right coach–a coach who has proven that specific leadership/action strategies will work for you. It’s important not to get just platitudes or encouragement, but to get practical actions that are proven to move a company forward.A� If you don’t have a coach now, you’re telling your agents to be accountable–but you’re not. So, consider gaining a coach this year to help you put these foundations in place.
Are You Developing your Leadership Skills?
If you’re stuck in management and want to move to leadership, if you want to expand your office with a firm foundation for long-term profits, consider coaching. Sign up for a complimentary consultation to see if Leadership Mastery Coaching is for you.
The Second Foundation to Profits: Standards
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From working with dozens of real estate owners and managers, and as my position as a CRB (Certified Real Estate Broker) instructor for twelve years, I’ve had an opportunity to see exactly what makes a company profitable–in the long run. So, this month, I’m going to share what I’ve found to be the critical pieces of the puzzle that lead to sustainable profits. I’ll spotlight the 4 foundations you have to have to be exceptionally profitable–no matter your economic model. Actually, I’ve come to these foundations by observing how companies fail to be profitable over a period of time without these four foundations. In each of these blogs, I’ll spotlight one foundation. The first was
Vision: The Missing Component in Most Business Plans (and in most real estate offices!)
The second, which I’m spotlighting today, is standards.
How did I learn about the importance of standards? As a lifelong pianist, I learned from a very early age that I had to play up and beyond a certain standard to get into master groups, to get a great piano teacher, to win competitions, and to be awarded a degree in piano performance. Standards are simply a part of the competitive action-based environment (like real estate sales!).
What are Standards?
What are standards? Ita��s the least youa��ll put up with. You may call them ‘minimums’. Now, some real estate offices have standards/expectations like
1. You must take floor time
2. You must be a Realtor
3. You must wear clean clothes and drive a clean car.
Those are all nice. But, have you ever seen a failing agent take floor time? Be a Realtor? Of course. Too often, we establish standards of behavior for our convenience as managers–not to assure we have productive agents!
The most important standards to put in place are
production standards
I Don’t Need Standards: My Economic Model is Different
You may say, “I don’t have to have production standards. I’m a desk fee company.” Sure, that works fine when the market is good. But, what happens to all those fees when the market turns down? You bet. Your desk fees shrink and your non-collectible fees go up dramatically! Or, you’re a high agent count company with narrow profit margins. Sure, that’s fine too as long as the market carries you. But, if you’re finding it hard to recruit great people, or if your market turns down, you’re in the same boat as the desk fees.
The bottom line: Having productive agents is important to your long-term profitability, no matter your economic model.
Standards Establish What You’re Like as a Company
Describe your agents. What are they like? Would you describe them as productive professionals? Are they doing enough transactions apiece that the public thinks your company is serving the public well? Or, do you have a majority of low-producing part-timers–which, even though we don’t want to admit it, tarnish our company image.
How many sales and listings sold are expected to stay in your office? If you don’t know, neither do they! So how can you expect them to go to work, when work is whatever theya��d like to do that daya��real estate sales or not! Before you can expect your training or coaching to work, you must establish productivity standards. Armed with those standards, you and they know whata��s expected. Now, you have a baseline from which to coach. Your consumer also has a baseline of expectations from your company.
Standards Establish Pride in Belonging
Which organizations are you proud to belong to? Why? Do you think your agents are proud to belong to your company? If so, why? Standards say ‘you’re special’. Standards say that you believe you can develop that agent to his/her fullest potential. If you don’t have established, held-to production standards, you aren’t protecting your long-term profitability.
In my next blog, I’ll discuss the third foundation you need to create a profit foundation that won’t waver even when the market tanks–and it will again!
Do You Know the Steps to Implementing Standards?
Many times we avoid setting standards because we are either afraid to, or don’t know how to do it in a way that brings all the agents with you. In our one-on-one customized Leadership Mastery Coaching, Carla takes you through the steps and helps you implement standards so you have confidence in the process and the agents are pleased you’re taking leadership. Find out more with a complimentary consultation.
Four Foundations You Must Have to Profit
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You know how much you’ve learned as an agent–and how much more you have learned as a manager. I’ve had those learning experiences. Plus, boy have I learned a lot as a CRB (Certified Real Estate Brokerage) instructor and coach. So, this month, I’m going to share what I’ve found to be the critical pieces of the puzzle that lead to sustainable profits. I’ll spotlight the 4 foundations you have to have to be exceptionally profitable. Actually, I’ve come to these foundations by observing how companies fail to be profitable over a period of time without these four foundations. In each of these blogs, I’ll spotlight one foundation. The first is
Vision: The Missing Component in Most Business Plans (and in most real estate offices!)
Is your business plan missing the inspiration? (If you have a business plan at all…..) If so, you need to put in the a�?visiona�� component of your plan. What is a�?visiona��? According to Jerry Porras and Jim Collins, authors of the great business book Built to Last: Successful Habits of Visionary Companies, vision
Provides guidance about what core to preserve and what future to progress toward.
In other words, you must first know your ideology and core values before you can create the rest of your direction in your business plan. The lack of vision in a plan leads to a de-motivating and certainly uninspiring plan. (As you can imagine, numbers dona��t in themselves inspire. They only inform. Martin Luther King didna��t say a�?I have a business plan. He said a�?I have a dreama��.)
For you managers: I think helping your associates create an inspiring and motivating plan will remove their reticence at doing a plan.
Shared Vision in a Company Also Leads to More $$$$
Collins and Porras studied very successful companies to find out the differences between a�?stunninga�� (high profits and highly regarded), and other like companies who were almost as profitable, but not so successful). They published the results in the best business book Ia��ve ever read, and I mentioned above, Built to Last: Successful Habits of Visionary Companies.
What did they find was the common difference between the highly profitable and merely very successful?
A common vision and values shared by every person in the company.
Porras and Collins’ conclusion was that the desire for profits isna��t the main driver for profits. The focused and tenacious vision, shared by all in the company, was the biggest determinant for profits.
Components of Vision
Your vision is made up of your core ideology and your envisioned future.
Your core ideology is made up of your core values and core purpose. If you look at your life, youa��ll see that the things that inspire and motivate you are the things that adhere to your belief system. Thata��s what this part of the vision statement says about you.
Your envisioned future is made from a vivid description of this future, and BHAGsa��big hairy, audacious goals. Those are goals five years out, that you really dona��t think you can attain.
The Power of BHAGs
Surprisingly, as Porras and Collins found, when companies stated these goals, they actually attained them in three years! (Inspirational goals that are congruent with your core values and core ideology are powerful motivators!).
Creating your Vision
Click here to get my worksheet to create your vision.
Ia��m convinced that we reach or dona��t reach our goals based on the intensity of our desire, driven not by cold numbers, but by the warm emotion of aligned values and inspiring goals. Yogi Berra said it well:
Life is like baseball; ita��s 95% mental and the other half is physical.
Include the a�?Drivea�� and Drive Your Company
When we know the a�?whya�� of what wea��re doing, wea��re driven by our own motivations. Put the vision into your business plan and see your motivation soar, and your goals met next year. And, don’t forget to communicate it every day to your team in various ways.
In my next blog, I’ll reveal the 2nd foundation–the one which forms the ‘put your money where your mouth is’ –from vision to proof.
Who Helps You Step Up to the Next Level?
As owners and managers, too often we feel like we’re ‘on our own’. Yes, we have the company–if we’re in a franchise–but, who’s really looking out for you? It must be YOU. Yet, few leaders have coaches. At the same time, we urge our agents to get a coach…….if you’re wondering whether coaching is for you, why not investigate our Leadership Mastery Coaching program? It’s true one-on-one coaching–no cookie-cutter or set topic approach, because you’re seasoned, you’re knowledgeable, and you’re unique. Carla Cross is a ‘coach’s coach with a winning background as a turn-around leader. Why not find out more in a Complimentary Consultation? Click here to arrange.
Poor Hiring Practices Cost You More than You Think
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Do you know how much poor hiring practices cost you? Many brokers tell me they don’t cost anything! Most brokers dona��t realize they are doing irreparable damage to their companies by hiring those who arena��t going to go right to worka��and keeping those who wona��t work. Here are the 3 biggest consequences to poor selection I see.
1. Stops you from hiring great producers. Likes attract. How can brokers hope to hire that great producer when they have more than 10% of their office as non-producers? I can see it now. a�?Sure, Ia��ll come to your office. Ia��m a top producer, and I just love to be dragged down by those non-producers. It will be my pleasure to waste my time with them.a�? Not.
2. Kills your recruiting message.
Do you have a training program? Do you use it to recruit? Herea��s the real message: a�?We have a training program. All our new agents go through it. We dona��t get any results from the program, so it really doesna��t work. But, join us.a�? You cana��t possibly show how successful your training program makes your agents because your training program cana��t possibly get resultsa��poor people in and no actions and accountability required.
3. De-motivates your agents to provide referrals to you.
Your outcomes and hiring practices speak more loudly than you could possible speak. Why would one of your good agents possibly refer someone to you when your good agent doesna��t see those you hired starting right out and making money fast?
All Your ‘Recruiting Stories’ Can’t Cover Up the Realities of Poor Hires
In a fast market, a�?accidental salesa�� buoy poor agents and make them look as though they are actually selling enough real estate to be a a�?mediana�� agent. What’s your market like? Can the agents in your market figure out the quality of your agents? Of course. You can run, but you can’t hide!
Please Tell Me What You Think
What do you think a non-productive agent costs the company? In my next blog, Ia��ll give you some line items that will probably double what you think a bad hire costs. Leta��s see what you think first. Poor hiring practices really, really hurts brokersa��both financially and emotionally.
Recruiting Resources to Help you Recruit Better
Recruiting plans, ideas, strategies, dialogue–Carla Cross has all the resources you need to ramp up your recruiting. See them at carlacross.com.
How’s Your Recruiting Plan Working for You?
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How’s that recruiting plan working for you? Have you reached the goals for that plan? Or, let’s get real here. Do you HAVE a recruiting plan? From my teaching thousands of real estate owners and managers, I would estimate, from my informal surveys, that less than 10% of owners/managers/recruiters have a plan. And, if you don’t have a plan, how do you know whether your plan is working?
What Goes in a Recruiting Plan?
There are many moving parts to recruiting. It’s admittedly difficult to put them in a nice, linear planner. But, I’ve done it! After seeing that most recruiters don’t have plans, I decided to make a straightforward planner that provides you a guide to use every day in recruiting.
The Five Steps in My Planner
Here’s how I organized The Recruiter Planner:
1. How many do you need? (natural ‘attrition’ and who you need to fire….) Do you want new or experienced?
2. Where are you going to find these people–sources? Which are your best sources. Do you know? Do you work these sources consistently? Divide your recruiting plan into your sources. How many recruits are you going to get from each source?
3. The numbers: How many recruiting contacts does it take you to get an appointment: How many appointments to get a ‘hire’?
4. The marketing plan: How are you going to contact and re-contact each of these sources? (Each source has a marketing plan)
5. Tracking: How are you going to track your contacts, interviews, and hires?
How Does Your Planner Stack Up?
What percent of recruiters do you believe have recruiting plans? How much of recruiting do you believe is on purpose? How much is ‘on accident’? Put that recruiting plan together TODAY and watch your profits soar!
Don’t Reinvent the Wheel! Get Everything You Need to Recruit Professionally
I want to help you step up your recruiting. Now is your greatest opportunity! Don’t let inaction or lack of plan put barriers in your way. This month, I have a blazing special on my Complete Recruiter. Regularly $129.95, it’s slashed to $59.95! Click here to learn more and order.A� (The Recruiter Planner is included, of course.)
What are You Doing with your Agents BEFORE Training Starts?
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What is your plan for your agents for BEFORE your formal training starts? Your agent started in the business Tuesday. You have sent the agent through your orientation process, but your training program doesna��t start for three more weeks. What do you do? Well, herea��s what NOT to do:
a�? Tell them to a�?just see the inventory and get acquainteda�� (theya��ll think thata��s the job description and some have been know to inspect the inventory for years before they would talk to a human being prospect!)
a�? Give them your own activity sheet that you used mupteen years ago–to keep them occupied
a�? Give them nothing and see what happensa��the other agents will probably keep them busy with administrative work (!)
Give them things to do that are easy so they will think they’re in real estate…..(but they won’t make any money…..)
Watch Out for the Truisms
Truism number one: Only about one out of a hundred new agents is a a�?natural, talenteda�� salesperson, who will figure out how to prioritize activities on his/her own
Truism number two: In the absence of a precisely, well-thought out prioritized start-up activity plan, most salespeople will create a plan for a a�?slow starta��; theya��ll form hard-to-break bad habits, scheduling easy-to-do, low pay-off activitiesa��because theya��re easier and non-threatening
Here’s What to Do
Introduce them to aA�business start-up plan thatA� they can implement the second week they are in the business (they expect a sale in 30-60 days, so you’d better start now!).A� Otherwise, they will wait around the office and copy what the other agents they see are doing:
- Drinking coffee
- Gossiping
- Arranging papers
- Playing computer
- Inspecting pretty homes (well, the ones that have good food….)
Herea��s what to look for in a business start-up plan:
a�? It has the same priorities of business activities as your training, so your agent a�?gets the picturea�� of success from day one
a�? It gives your agent meaningful activities to complete prior to starting your training program
a�? It doesna��t require anyone in the office training that agenta��until your training program starts
a�? It forms the basis for first-day coaching, if you want it to
a�? It coordinates a training program done byA�your affiliates (mortgage, title, inspectors, etc.) who want to form relationships with your agentsa��to teach them the basics of the technical aspects of real estate (I call this a Business Foundations series).
To get a copy of a prototype Business Foundations course series, click here.
Consistency Equals Productivity
Your job as a manager/trainer is to createa��or choosea��a start-up plan and a training program that all present the agenta��s job description in the same manner with the same prioritiesa��so your agent has a clear roadmap on how to succeed every day. Doing so assures you have to hire less new agents to meet your recruiting goals, youa��ll have more success that you can promote to recruit, and more real dollars will flow to your bottom linesa��and theirs!
Want to save time AND be more profitable? See the program below, which combines a business start-up plan AND the training needed to get that agent out the door and into production right now!
Up and Running in Real Estate Starts Your AgentA�Right to an Exceptional Career
Congratulations to the 3 winners of the scholarships for my new UP and Running in Real Estate program:
Jeffery Doescher of Apollo Realty in Cocoa Beach, Florida
Stacy Coppola of Coldwell Banker in Castro Valley, California
Bessie Selfridge of Coldwell Banker in Port St Lucie, FL
You can bet they are going to get the secrets of becoming a top producer–and get into action with the most proven business start-up plan in the business!
Do you have newer agents who you know should succeed? Please do them a favor and have they enroll in Up and Running in Real Estate. All the training, coaching, and supporting documents are online, so agents can go at their own speed and go back as many times as they want. How this program is different: It is foundationed with a business start-up plan, so agents learn how to self-manage a successful business, not just do activities. And, there’s nothing else to buy–no extra cards that stay in their trunks! (And, there’s a coaching component for you to support your agent every step of the way!).
Check it out and see how you canA�help your agents can reach their potential–and beyond!
New Rules of Motivation Managers Don’t Know….
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(Sorry, I couldn’t resist the picture….).
Are your motivating methods working? If you’re using the methods most managers use, they aren’t working like they used to. Why? Because today’s agents just aren’t motivated by the things ‘workers’ used to respond to. Today, it’s very important that we motivate effectively, because we have to get out agents back out into the market.
Motivational Methods Must Change
In his new book, Drive: The Surprising Truth About What Motivates Us, Daniel Pink lays out a persuasive case, backed by extensive scientific studies, about why the traditional a�?carrot and sticka�� motivational methods just dona��t work for us today. Ita��s especially true with real estate professionals. Why? Because we in effect work for ourselves. We have to be self-starters, initiators, and tenacious in our pursuit of our goals. That means we have to be motivated by things other than promises of material things.
Why Money Doesna��t Work as a Motivator
First, as Pink points out, money and/or material things are good short-term motivators. (Read Herzberga��s studies on short and long-term motivation). In fact, just take a look at the number of real estate agents who are motivated to visit an open house when therea��s food! But, as Herzberg and others have pointed out, money is a lousy long-term motivator. You know that if youa��ve tried motivating your kids with moneya��or threats (the carrot and stick).
I know. The agents all say they need to make more sales. But, what have you noticed they are willing to do to make those sales? Lead generate more regularly? Make more sales calls? We all know that lead generating is the answer to that money problem. Yet, the vast majority of agents avoid lead generating as if it gave us some chronic disease! So, money is just not an effective long-term motivator.
Best Motivators to Motivate Others
Pink shows, via extensive studies, that there are three driving motivators which we should put to work today to fire ourselves up, keep those fires lit, and achieve what we want to achieve. They are:
- Autonomy
- Mastery
- Purpose
Questions to Ask Your Agents to Get Them Excited Again
AboutA� Autonomy
Are you in charge of your own business, or are you waiting for someone else to tell you what to do?
Do you expect your manager to make you go to work, or are you self-directed and self-starting?
Are you disciplined in your business, so you can enjoy that autonomy?
Seth Godin, author of Tribes,A� says about autonomy: The art of the art {of autonomy} is picking your limits. Thata��s the autonomy I must cherish. The freedom to pick my boundaries.
My question to you: Do you have agents that you believe will never operate in autonomy? Don’t you need to invite them to another profession?
AboutA� Mastery
Are you working just to get by, or are you consistently working to get better? What do you want to excel at? How does that translate into your business?
About Purpose
What excites you so much you cana��t sleep at night?
Is there a way to translate that to your real estate business?
The desire to do something because you find it deeply satisfying and personally challenging inspires the highest levels of creativity, whether ita��s in the arts, sciences, or business. 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�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� Teresa Amabile, Professor, Harvard University
Light’ Em on Fire
Why not invite me to speak to your leadership team about effective motivation? I’ll point out the common strategies managers use that actually de-motivate, and how to create motivators that work long-term to create a better team atmosphere, more production, and bottom-line profits. Contact me at carla@carlacross.com for more information.