This month, the focus is on training. Not just any training though–training that works to increase your agents’ production AND become a powerful magnet recruiting tool. In this blog, I’ll ask you some questions so you can see how your process with agents really works–or doesn’t work too well!
How do you know how well it’s working? One measure is your retention. What was your retention percentage last year? Is that good enough? How much money/time/effort are you wasting hiring people who don’t work? If they’re slipping through the cracks, you’ve got some work to do, and here’s what needs to be done.
What’s Your Plan with that Agent?
Recently, I was consulting with a real estate company on their post-recruitment programs. They had added an agent–a transfer from another branch office. It became apparent from this agent’s lack of training that she didn’t know how to do the basics. And, she didn’t go through a thorough intake procedure (including orientation, policies, etc.). Since no ‘in-take’ interview or procedure was in place, no one caught her deficiencies until she got into a commission problem and wanted to be bailed out by the broker!
Right now, write down what you do with a new agent as soon as that agent is hired. Do you have a comprehensive ‘development’ plan for that agent? Does it include
Orientation
Intake interview to discover the agent’s needs?
Stepwise process to train, coach, and evaluate the agent for that agent’s first six months in the business?
Who follows that agent’s development? Who assesses it at one month, two months, etc.?
What happens if that agent isn’t meeting office production standards? (You are measuring these, aren’t you?)
The Intake Interview with the ‘Seasoned’ Agent
We may think we’re hiring a seasoned agent if that agent has been in the business six+ months. However, don’t take for granted that agent knows the basics. You need an intake interview to determine needs. Here are some questions:
1. What training have you had? Please describe. (Did the agent actually do something during the training–like lead generation–or did the agent just listen to speakers?)
2. What’s your background prior to real estate? (What skills do they bring to real estate?)
3. How many transactions did you complete? What was the source of the leads?
4. Do you have a pre-listing/listing process and packages? (Please see these items.)
5. Do you have a pre-first visit/buyer process and packages? (Please see these items.)
6. Do you have a business plan? (Please see it).
Asking those questions will help you determine a career path with that agent.
You need to have the training/coaching/accountability in place to help that agent develop his business to the next level. How would you rate yourself on your intake system?
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Are You Organized Enough to Grow?
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