As a real estate broker, it’s expected that you know a lot about the business. The success of your brokerage is directly tied to your knowledge and experience. From picking a commercial location from which to run your business, to hiring new and seasoned agents, to marketing, you run it all. You keep abreast of changes in financial and real estate newstrain and carefully study market hot sheets each morning.
What New Agents Don’t Know
But how do you impart your sales and marketing skills and expertise to new agents who may be eager, but still have a lot to learn? These fresh-out-of-school agents have a general real estate education, but don’t know the first thing about what it takes to work in the business—generating leads, doing a CMA, writing a contract or even basic marketing.
By now you know what new agents consistently need to learn and can coach them on those topics. While teaching them real estate best practices can be a drain on your time, you understand that new agents can only be producing agents with the proper training. Taking the time to educate new agents toward success means they have a better shot at being the 13% who succeed, rather than the 87% that fail within five years in the industry*. But if you don’t have a dedicated trainer, where do you start?
A question-and-answer format is a fun way to train agents new to the business. Create answers to the most often asked questions you’ve heard over the years. Keep your answers clear, simple and to the point to make it simple for agents to grasp the concept and easily act. Questions to answer may include:
- How do I get prospects?
- What kind of prospects should I go after?
- How do I generate leads?
- What can I do to set myself apart from other agents?
- How do I negotiate my commission?
- How do I run and analyze a CMA?
- How do I market my listing?
Make Training Accessible
Share your expertise with new hires in an accessible YouTube video or other digital platform. To make the information easier to learn, shoot a short video for each question. Doing a training video, for instance, is a good delivery method that frees up your time. You can create the material, upload and use it to train many agents with no extra work on your part. Just create updates as information changes. If you are lucky enough to be affiliated with a large real estate brand like Weichert, you may have access to some of the best real estate marketing tools in the industry like an online, e-learning center, which provides a wealth of material on important training topics. Best of all it is available 24/7.
Motivate For Longevity
Knowing how to attract and funnel leads, how to acquire listings and how to write a contract are all key parts of any real estate business. But, as all brokers have experienced, agents often have slow times or difficult buyers or sellers. Think back to what it was like when you were just getting started as an agent. What was that bit of wisdom, quote or daily affirmation that you’ve never forgotten and still use today? Share what keeps you going each day with your new agents to teach them the art of motivation. It will help keep them in the game for the long haul.
There is of course, an easier way to train new agents that works around the clock every day, so you don’t have to–that is affiliating with a company who invests and provides you with these training resources. Weichert® realizes the relationship between education and success, and offers a full suite of training programs for new agents. These include an online university and ongoing interactive training sessions to get agents up to speed fast and keep them current with best practices. Call Weichert® at 877-533-9007 to learn more.
*NAR Survey 2014