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Sep
15

The Four Smartest Things Things You Can Do to Rev up Profits NOW

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Here are the four smartest things you can do to rev up profits right now. Take advantage of the reviving market before you hit the holidays.

1. Recognize that empathy alone is not enough.
Why do brokers think that a�?loving thema�� will somehow motivate agents to go to work? a�?Loving and cheerleadinga�� may suffice in a fast market, but it doesna��t work when everybody needs to face facts and go to work. Smart brokers are focusing agents on lead generating plans and holding agents accountable to that work. That demonstrates their faith in the agentsa�� ability to succeeda��and the ability of the brokersa�� program to facilitate that success.

Conclusion: No plans and no accountability suggests the manager either doesna��t care, or doesna��t have a plan to help agents achieve.

Questions to ask yourself:
How are you communicating your faith in your agentsa�� ability to achieve?
Do you hold your agents accountable to their goals?
How much faith do you have in your productivity programs (or do you have them)?

2. Set the standards of performance to define the values of the company.
Good managers arena��t afraid agents will leave. Theya��re willing to give up that one deal a year to a�?take the lid offa�� those productive people and get them fired up with other pros. If your value proposition says that you have a team of a�?quality professionalsa��, define that in terms of production. (My two coaching programs, Managersa�� Up and Running in 30 Days Coaching System for New Agents, and Managersa�� On Track to Success in 30 Days Coaching System for Experienced Agents offers suggested activity and results standardsa��and plans to get your agents a�?leapinga�� over those standards.)

Note: A recent study to over 70,000 professionals in 116 organizations found 93% said working with a slacker actually hampered their development or decreased their productivity.

Questions to ask yourself: Are you unwittingly de-motivating your agents by keeping non-producers?

3. Put systems into place that appreciate, motivate, and inspire your agents.Studies prove that immediate, positive feedback results in higher goal attainment. How often do you appreciate your agents? Do you have an appreciation/motivational system in place? Unless ita��s planned, it wona��t happen.

4. Refine your hiring practices.
In a shifted market, brokers must hire much more carefullya��and be really tough in the interview with a top-rate, practiced a�?mutual expectationsa�� talk. (I believe only about 10% of managers have an adequate a�?mutual expectations dialogue). Not just anyone can sell in a shifted market. Now, agents must have the tenacity, gain the skills, do the lead generation, and work at least 40-50 hours a week.

Questions to ask yourself:Do you have a planned, practiced interview process?
Do you find you sometimes get a�?surprisesa�� in your hires, because you forgot to ask important questions?
Do you get agreement for your culture, values, and minimum performance expectations prior to hiring?

Tough but fair expectations coupled with an agent development plan assures profits challenging times. Thata��s the formula. Why not get your share of profits right now?

Comments

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