Tag Archives: real estate broker

What It Takes To Get Agents From Good To Great

 

How_to_become Successful_Agents

Like most real estate brokers, you know how important, yet challenging it can be for real estate agents to reach their full potential. Sometimes even experienced agents get in a rut. Yet everyone knows that the more successful agents are, the happier they’ll be. When agents feel stalled, or unable to reach their earnings goals at one brokerage, you can bet they will eventually seek out a new one. The more you can play a part in getting your good agents to be great, the more loyal they will be to you. The most dangerous thing you can do is nothing. Here are a few practical ways of motivating your good agents to reach greater heights.

Break Bad Habits and Foster Good Ones

Unlike a brand new real estate agent that is still trying to get their feet wet and learn the lay of the land, an experienced and already producing real estate agent is likely to have developed a bad habit or two. Before you can get to work in helping to break these bad habits, you and your agents need to first identify what they are. One easy way to tackle this obstacle is to invite all of your agents to one-on-one meetings or coaching sessions where you can identify areas for improvement and help coach them toward more productive activities. Create contests within your brokerage the encourage the activities you want them to do, such as holding open houses or using the company listing presentation. Provide them with a cheat sheet or calendar of activities, which if followed, has shown to produce clients and listings. However, you do it, keep this coaching a positive experience, by avoiding direct criticism and giving positive feedback on the things they are doing well.

Set Appropriate Goals

One of the most common causes of agents not reaching their full potential is not having set goals. Some agents don’t set goals at all, some set the bar too low, and others set it far too high. Unfortunately, many people simply never learned how to set goals for themselves in a way that will drive them forward. Asking your agents to complete a yearly business plan is a first step. Review each of your agents’ business plans with them to make sure they are challenging, yet attainable. It will also help ensure they are aligned with your own goals for growth. An annual team-wide workshop or webinar is a time-efficient way of educating your agents on how to set appropriate goals. Then follow up with one-on-one meetings with genuine offers to help any way you can.

Establish Accountability

Setting appropriate goals to strive for is one thing, but taking the steps to achieve them is the real challenge. A proven way of increasing an agent’s goal success rate is an accountability partner. An accountability partner is someone that your agent will trust, share their goals with, and look to for steady motivation to meet the goals that they have set for themselves. These relationships work best when both partners lean on one another for such support and feel a sense of responsibility to one another, more than just themselves. Research shows that the fear of letting someone else down for failing to complete a task or goal can be one of the most powerful motivators of all.

Encourage your agents to find an accountability partner within the team or a mentor that they are comfortable with and trust. Then do everything you can to make sure they are successful in reaching their goals.

Your Role As Broker & Coach

Ultimately, your role as a broker is to be your agents’ biggest cheerleader. Don’t underestimate the value of encouraging them, empowering them with the resources they need to reach their goals and rewarding them for their achievements both big and small. Remember, the more junior members of your team are looking to your veteran agents as role models and your efforts to motivate the vets will have a trickle-down effect on them.

At Weichert, we believe strongly in hands-on coaching and support with affiliated broker to help lead them to business growth. We also provide the recipe and the tools to succeed. The Weichert Franchising team has spent years building a comprehensive system of training for brokers and agents of all levels in the industry. Many Brokers who join us tell us how powerful it is to be able to “plug-in” to a well-established system that supports both them and their agents.

Growing on your own can be hard. If you’re looking for a partner to help you with some of the heavy lifting on your way to the next level of success, consider a conversation with the Weichert Franchising team today or visit https://weichertfranchise.com

Are You On the Fast-Track to Success or Failure?

Brokerages fail for many reasons, but sadly many real estate businesses follow the same, time-worn path. Is yours one of them? To ensure success, you’ll want to avoid common mistakes. However this is a lot easier said than done, as in real estate, brokers often assume the path to success is the most heavily traveled one. Here’s how to avoid taking the wrong exit.

The Recruitment Express Lane

Many brokers don’t focus on recruiting. It’s a sporadic activity at best, often prompted by a vacancy left by another agent. Yet recruiting is critical to putting your agency in the fast lane for growth. Jim Weichert discovered this early on. By making recruiting an organized activity of your office, you create a pipeline of agents that will ensure a steady flow of business. Agents will always come and go, but a strong pipeline will minimize any disruptions in business. What makes up a strong recruiting strategy? Setting goals for hiring and staffing. Consistently engaging in the right activities to attract prospects and having attractive marketing materials to effectively market your brokerage. Once you’ve hired them, you want to retain them. This requires you to consistently promote your value as a brokerage. What do you offer your agents? How do you support their professional development?  How do you help them secure listings? How do you help them find buyers? What types of farming support and systems do you provide to help them grow their business?

Sales & Listing Rubbernecking

Many of today’s agents tell us that they’re feeling the pain of today’s low inventory market and are always on the hunt for a leg up on lead generation. This can too often leave your best agents peeking over the fence toward the seemingly greener pastures of competitive brokerages. A recent Inman survey of agents identified buyer leads (32%) and listings (30%) as topping the list of valuable services their brokerage does not–or could do a better job of– providing. What are you doing to help generate sales and listing leads for your agents? Do you have a highly dependable and productive lead and listing system for keeping agents engaged? Or brokerage specific Customer Relationship Management (CRM) software for effectively managing customer contacts? In today’s high-stakes, instant-access mobile world, minutes could cost you a solid lead. Stop looking back at what competing firms are doing, and zero-in on what you can do in your own brokerage to reach success by developing a coherent and disciplined action plan with tried-and-true methods. When your agents perform well – so does your brokerage.

Agency Bypass

How do you stand out in your market to avoid being bypassed? Building a strong presence requires consistency. Consistent marketing, consistent promotion and a consistent level of customer service by your agents to create a memorable experience for clients. However, it can be a daunting task to implement those things and keep up with them all by yourself. Joining a national brand is a great way to raise your profile. It also allows you to tap into constantly refreshed resources for marketing, promotion and training of agents so they are confident, productive and can provide the best real estate service in the market and stand out from the crowd. You also benefit from networking with peers to learn what has worked for others with similar challenges.

Paving a Smooth Road Ahead

You wear a lot of hats to ensure your brokerage’s success – but you don’t have to go it alone. Tested and proven systems and tools exist for successfully addressing your brokerage’s growth challenges. You already know you have to attract agents, stand out from the competition, boost listings and move inventory faster. A franchise partner such as Weichert is an example of a resource with proven, successful systems that businesses can plug into encompassing everything from recruiting and securing listings to attracting and managing leads to marketing your brokerage. Discover how to put a Weichert® real estate franchise opportunity to work for your business today.

This blog was originally posted at: https://www.weichertfranchise.com/real-estate-broker-marketing/fast-track-success-failure/

Are You On the Fast-Track to Success or Failure?

Brokerages fail for many reasons, but sadly many real estate businesses follow the same, time-worn path. Is yours one of them? To ensure success, you’ll want to avoid common mistakes. However this is a lot easier said than done, as in real estate, brokers often assume the path to success is the most heavily traveled one. Here’s how to avoid taking the wrong exit.

The Recruitment Express Lane

Many brokers don’t focus on recruiting. It’s a sporadic activity at best, often prompted by a vacancy left by another agent. Yet recruiting is critical to putting your agency in the fast lane for growth. Jim Weichert discovered this early on. By making recruiting an organized activity of your office, you create a pipeline of agents that will ensure a steady flow of business. Agents will always come and go, but a strong pipeline will minimize any disruptions in business. What makes up a strong recruiting strategy? Setting goals for hiring and staffing. Consistently engaging in the right activities to attract prospects and having attractive marketing materials to effectively market your brokerage. Once you’ve hired them, you want to retain them. This requires you to consistently promote your value as a brokerage. What do you offer your agents? How do you support their professional development?  How do you help them secure listings? How do you help them find buyers? What types of farming support and systems do you provide to help them grow their business?

Sales & Listing Rubbernecking

Many of today’s agents tell us that they’re feeling the pain of today’s low inventory market and are always on the hunt for a leg up on lead generation. This can too often leave your best agents peeking over the fence toward the seemingly greener pastures of competitive brokerages. A recent Inman survey of agents identified buyer leads (32%) and listings (30%) as topping the list of valuable services their brokerage does not–or could do a better job of– providing. What are you doing to help generate sales and listing leads for your agents? Do you have a highly dependable and productive lead and listing system for keeping agents engaged? Or brokerage specific Customer Relationship Management (CRM) software for effectively managing customer contacts? In today’s high-stakes, instant-access mobile world, minutes could cost you a solid lead. Stop looking back at what competing firms are doing, and zero-in on what you can do in your own brokerage to reach success by developing a coherent and disciplined action plan with tried-and-true methods. When your agents perform well – so does your brokerage.

Agency Bypass

How do you stand out in your market to avoid being bypassed? Building a strong presence requires consistency. Consistent marketing, consistent promotion and a consistent level of customer service by your agents to create a memorable experience for clients. However, it can be a daunting task to implement those things and keep up with them all by yourself. Joining a national brand is a great way to raise your profile. It also allows you to tap into constantly refreshed resources for marketing, promotion and training of agents so they are confident, productive and can provide the best real estate service in the market and stand out from the crowd. You also benefit from networking with peers to learn what has worked for others with similar challenges.

Paving a Smooth Road Ahead

You wear a lot of hats to ensure your brokerage’s success – but you don’t have to go it alone. Tested and proven systems and tools exist for successfully addressing your brokerage’s growth challenges. You already know you have to attract agents, stand out from the competition, boost listings and move inventory faster. A franchise partner such as Weichert is an example of a resource with proven, successful systems that businesses can plug into encompassing everything from recruiting and securing listings to attracting and managing leads to marketing your brokerage. Discover how to put a Weichert® real estate franchise opportunity to work for your business today.