Tips For Coaching New Real Estate Agents

Real Estate Coaching

Bringing new real estate agents into your brokerage, can be an exciting part of growing your business. For a new agent that is eager to grow and open to new ideas, real estate coaching is essential in order to teach them how to create and cultivate leads and sharpen their sales skills to achieve their desired results. Some of these new agents will be young, working in real estate for the first time. These young agents can be a great source for reaching first time homebuyers and connecting with Millennials.

But let’s face it, whether they are new to your brokerage or new to the industry completely, they are going to need training and supervision to be productive and understand your unique systems for marketing and selling.

Fast Track To New Agent Productivity

To increase new agent productivity, ensure retention, and produce strong agents, brokers need to quickly train and reinforce best sales practices and proper systems in their new recruits. However, it can be a challenge as a broker to conduct individual training sessions, while trying to also manage a company. To achieve both goals, have a formal plan that includes an active and diverse set of training strategies. In addition to helping your new hire, these practices will become word of mouth for your brokerage and new agents will want to join you over others if the word is out that your training is the best in the area.

Here’s a few tips from the professional coaches at Weichert:

Assign A Mentor to All New Agents

Some brokers do a few individual trainings, but expect the new agent will primarily learn the ropes from an already established agent. Seasoned agents often appreciate the extra help to further grow their business (and share commissions), while also imparting their knowledge and expertise as a new agent mentor. For consistency, set a timeline of goals for new agent productivity that includes occasional meetings with you. During each goal review meeting, discuss these results and how the new agent can improve. Setting these mutually agreed upon goals really is important to both you, and your new agent.

Consider Supplementary Online Training Systems

Some brokers who do not have good internal systems may bring in outside real estate trainers. While this can be effective, it is also an additional brokerage expense. As a less costly approach there are web-based coaching programs that you can investigate as a supplement to other personalized methods. These are cheaper than hiring a personal coach, but typically are very generic treatments of processes that may or may not be suitable for your business.   The ideal situation is training that perfectly describes your business model, your processes, and your tools. Weichert training for example, provides online courses, scripts and other tools through their online University that directly support the proven processes and systems that Weichert gives their affiliates. They are highly specific and relevant to the operational model that has proven to be so successful for Weichert affiliated brokers.

Build a Formal Training Program

Many brokers create and present extensive real estate coaching agent programs which they have built over many years. It’s good to have something formal that defines how things operate inside your agency, and best practices as you see them, but this, too, can require a great time and resource investment to cultivate. One of the benefits of franchising is access to this type of sophisticated training. Weichert affiliate agents, for instance, have access to Weichert’s “Fast Track” training and live sales training sessions to quickly get new agents up and running with the tools and systems needed for long-term success in the business.  Weichert agents and managers also benefit from ongoing weekly webinars and local mastery sessions which provide ongoing live training opportunities given by experts on many different topics critical to agent success.

If you need to grow this yourself however, we recommend that each time you hire a new agent you chisel away at this kind of training material and enhance your training tools so that eventually you’ll have a living, working, comprehensive training program.  Or you can plug into a system that is already developed for you through affiliation.

Final Thoughts

Real estate coaching for new agents doesn’t have to be difficult. It doesn’t have to drain the broker’s time or the company’s revenue.  The best training programs are ones that achieve a balance between your time and expenses, and that contain multiple sources of training material, including hands-on coaching and online training. The best training is also the one designed to complement and support a proven blueprint for both agent and broker success.

Getting and training new agents is the lifeblood of your success as a broker. You can do it yourself, or you can get a big assist from a franchise brand, such as Weichert.

Speak with the Weichert franchise team today and begin to understand how effective a recruiting, coaching and agent training process can be for your brokerage.

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