Tag Archives: real estate coaching programs

Awards & Recognition: Why A Little Can Mean A Lot in Retention

comprehensive support

One of the biggest challenges that even the most experienced real estate brokers face is constantly keeping their agents motivated toward achieving their goals. This is because the real estate industry poses many challenges – and there is a lot of rejection that goes along with the job. Your ability to support your agents and provide them with positive reinforcement can make them much more appreciative, less likely to leave you, and much more motivated to contribute to the business. If you’re looking to reignite the fire in your team and get the ball moving again, try some of these ideas:

Build A Culture of Support

You have probably heard many people talk about things like “company culture”, but maybe you’ve wondered how that is ever implemented in a meaningful way at a brokerage. At Weichert, we believe that getting this right is one of the most important elements of keeping your team in place over time. One way to build this culture is through awards and recognition. They don’t have to be elaborate ceremonies, or expensive gifts, but public and regular recognition of achievement is a proven way to create positivity in your environment. It can appeal and motivate your entire workforce in a way that transcends money. Recognition tells people you notice and you care about the big and little things they do. Recognition will go a long way in creating the culture of trust and support that every broker should want.

Everyone Enjoys Being on a Winning Team

Everyone is an individual and is motivated by different things. But if there is one thing everyone has in common, it’s that they want to be on a winning team. Being recognized, seeing their colleagues recognized, celebrating collective milestones and achievements of the brokerage all contribute to positive feelings throughout the company. Everyone is working toward common goals, they can visually see progress being made, can cheer each other on and celebrate success. In short – it just makes everyone feel good! Who doesn’t want to be part of that? That energy motivates a team to continue to move forward and is especially powerful to have in the bank to get tough times.

Recognize Success at Many Levels

Awards, or acts of recognition, both big and small, both public and private, do a number of things for you and your agents. So what are some of the things you can recognize?

  1. The closing of sales is an obvious cause for celebration
  2. Monthly awards such as Top Listing Agent, Top Closing Agent, Most Homes Shown, or Most Open House Traffic
  3. How about a distinguished service award for someone who volunteers at a charity in the company name? Or who generates the most donations for a particular drive.
  4. End of Year recognitions based on GCI or Transactions. Create different levels. Recognize your best Rookie.
  5. You can recognize people for particular skillsets or expertise they possess, such as your client management system or recognize an agent for delivering the best listing presentation, most phone calls made, most direct mail pieces sent. Use your imagination, but keep it real.

Brokers Need Motivation Too

As a broker, you are constantly leaned upon to play the role of the fearless leader and keep your agents motivated. However, you also deserve to have a support system that empowers you to stay motivated, improves upon your success, recognizes your achievements, and helps you grow as a leader. Who helps motivate you and encourage you to keep going?

When you partner with a franchisor like Weichert, not only do you get the coaching and guidance to help you implement awards and recognition in your office, but our coaching team is there to support and cheer you on as an owner. Plus, we support a national awards program that recognizes both agent and company achievement. This includes an annual season of local events that take place around the country, where members of your office as well as from fellow franchisees in your region will come together to congratulate, celebrate and cheer each other on. It’s all just another way to be in business for yourself, but not by yourself. After all, everyone likes to be part of a winning team.

For more information about how you can be part of the winning Weichert brand, visit www.weichertfranchise.com or call 877-567-3350.

The Power of Collaboration

As a real estate broker, you are no stranger to collaboration at many different levels. Building collaborative networks that are vibrant and mutually beneficial can be a catalyst for positive change and growth, when you have the right people on the other end. We live in rapidly evolving times and your ability to be successful can depend on getting the right guidance and advice, at exactly the right time.

Collaboration takes many forms in the real estate industry.

  • We collaborate with clients to help them through the buying and selling process.
  • We collaborate with vendors to obtain services and deliver them to our clients.
  • We collaborate with other agents and brokers to create a win/win situation during a sale.
  • We collaborate with the community, to be a positive influence and serve a greater good.

As a broker however, you also need collaboration at a higher level. You already know how to sell houses, but your challenges are more strategic, and business related. What’s the most effective strategy to get more leads for my agents? What technology will help me best run my brokerage? What CRM tools should I provide my agents for lead nurturing? What recruiting practices are most effective? How do I differentiate my brand? Collaboration and networking with other real estate professionals can provide good advice, experience, and opportunities in these areas.

Collaboration For Brokerage Growth Challenges

Broker growth issues and recruiting challenges benefit from the opinions and experience of other brokers, real estate coaches, and subject matter experts. For the independent broker finding people with such diverse experience who are willing to share, coach and consult is either rare, expensive, or both.  Still, you owe it to yourself to establish a network of professionals who have proven success in one or more areas so that you have a support system for your growth roadmap.

Consider some of the following activities to build your network:

Networking Groups – Get involved with organizations like the Chamber of Commerce, LeTip, the local Real Estate Board, or participate in state Realtor events. These are valuable opportunities to network and meet like-minded professionals. Consider getting involved with them at a leadership level if possible.

Complimentary business partnerships – Partner with related businesses or non-competing agencies. They will likely share similar challenges and can also serve as a resource for ideas or help you avoid mine fields they may have already encountered. Through your alliance you can refer leads or collaborate on events, such as a home-buyer seminar.

Social Media Networking – Facebook and LinkedIn are actually excellent places to connect with non-competing brokers, and mentors. There are established real estate groups on these channels that you can join and whose discussion you can monitor and participate in. This is one of the most efficient and least time consuming ways to build out your network.

Another Solution to Collaboration

At Weichert Franchising, we’ve found that the desire for collaboration is one of the biggest reasons many brokers seek out a brand affiliation. It turns out that an affiliation with Weichert provides networking, coaching and training opportunities most brokers never dreamed of. In addition to the instant help with lead generation and recruiting, having a team of like-minded peers and industry experts who are always available and invested in your success is a powerful thing. At Weichert our affiliates get collaborative support in a number of ways:

  • Training Systems – designed to teach proven processes for success, whether it’s for a new agent, experienced agent or manager.
  • A Regional Service Manager (RSM) who is available to train and guide offices on the tools available and how to get the most out of the Weichert® System for day-to-day business success.
  • A Regional Director, who is like your own personal trainer and helps with everything from business planning to sales & marketing systems, recruiting and financial management.
  • Broker Networking through formal events like local broker council meetings, regional rallies and exciting national conferences to our collaborative Weichert culture which encourages brokers across the country to just pick up the phone or interact on social media to get opinions and advice.

Having positive, expert collaboration with the right people around the right processes and systems can be a huge sigh of relief for today’s independent brokers. Call the Weichert Team today and see how we can help you do more.

Best Way To Get Full Commission? Know Your Value.

In the ultra-competitive market for local home listings, the pressure to discount commissions is ever present. Some brands in your market may even make the discounted commission their primary marketing differentiator while selling themselves as full service agents. How do you compete with that?

Is discounting simply devaluing your services or something you have to do to survive? Here is some insight from the online real estate marketing specialists at Weichert.

Educating Clients About the Value of your Services

If you want to keep your full commission, you have to sell the value of what you do for it, plain and simple. A 4% commission from the other guy may sound great, but we all know he’s cutting corners somewhere to do that. Yet for clients, cutting broker commission seems to be the easiest route to saving money – and in their heads, this makes sense because they often lack the insight into what it is that real estate agents actually do. Taking the time to keep the client informed of the services you will provide at every step of the way is key. These include, but are not limited to:

  • Start with a great listing presentation and local market analysis. If you impress them with the professionalism and thoughtfulness of your competitive research, you’ve immediately set yourself apart as a professional who is deserving of full compensation.
  • Do the legwork – Scheduling multiple open houses, tours, inspections, re-inspections, conducting follow up, recommending small changes to make the house more sellable, running ads in local real estate publications, posting in supermarkets, mailings… the list goes on and you should be able to tell prospective home sellers exactly what they won’t get when they go to a discount brokerage.
  • Most people hate to negotiate – It’s a fact, but as an agent negotiating deals is your bread and butter. Agents can spend hours presenting, convincing, and following up on an offer – and only their experience and negotiating expertise maximize the seller’s chance of selling quickly at the price they want.
  • Expanded Property Marketing Exposure – This is achieved by accessing your real estate agent’s branding and MLS platforms, the most important of which is its online space. Buyers predominantly search the Internet for housing choices, and it’s almost impossible to get the same visibility and access to buyers through a discount realtor.
  • Accurate pricing – There are always properties that are overvalued by owners and may stay on the market for months or even years, just as there are undervalued properties that are rapidly sold for far less than what the owner deserved. Accurate pricing ensures a good result for owner and buyer, as well as a faster selling process.
  • Executing the sale – Completing a sale is a complex process that is made far easier, faster and more reliable when taken on by an experienced professional agent and broker. A full service agent will often have a real estate crm system to help them stay on top of potential buyers and a transaction management system to manage the transaction in a way that for-sale-by-owners, or discount brokers will not.

Technology plays a vital role in achieving this and is another area where you can show the value you add at full commission. As an agent, you have access to expert online marketing tools for real estate agents, a broker who is able to properly leverage the full power of their local brand and reputation, as well as a network of financing, legal, and construction professionals who you can recommend and help manage for your client.

Transform the way you sell with industry-leading real estate coaching programs 

Built on the expertise of experienced brokers, technology specialists and real estate industry leaders, Weichert is focused on providing effective answers to the challenges faced by today’s real estate agents. From marketing strategies for agents and a cutting-edge lead generation system to the best real estate coaching programs in the industry, we provide all the solutions you need to build your business and succeed in even the most competitive climate.

If these tools and solutions sound like a good fit for your brokerage or you would like to find out more about the Weichert system, please contact us today.

The Open House in 2018 – Promotion

Hungry for a sale, an agent blankets the neighborhood with Open House signs and then waits eagerly for a bite. Their efforts may drive traffic to their Open House and perhaps even bring the gold prize—a qualified buyer. But the question remains: Did this Open House, while effective, reach its full potential?

Even in this digital age when buyers rely so heavily on the Internet, the open house remains a cornerstone of real-estate sales and prospect marketing. At Weichert, Open Houses are deep rooted in our “people first” philosophy. Statistics published by NAR in 2017 show that 73% of homebuyers visit at least one Open House prior to purchasing.* Weichert open houses, specifically, attracted nearly one million potential buyers last year.** If you have the means to assemble a pool of buyers and sellers in one place where you can directly interact with them and sell them your value vs. your competitors, why wouldn’t you want to make the most of that opportunity?

But as every broker knows, a great open house event requires excellent conversational skills and a positive attitude. But more importantly, for it to be successful, it requires careful preparation, execution and follow-up. The question is whether the full potential of this type of event is being realized by your agents and for you the broker.  After all, this isn’t just finding a buyer for the property being held open, but this could help you connect with your next client(s).

If you haven’t recently examined how you and your agents are promoting, conducting and following up on data from open houses, you might want to consider it. As a start, take a few tips from the team at Weichert Real Estate Affiliates, Inc. who coach and train brokers across the country every day on best practices for open house management.  Let’s focus on how promotion plays a large role in Open House success:

Promoting Your Open House

In the performing arts it is often said that “less is more”, but when promoting your open houses, actually more is more!  More signs, more brightly colored balloons, more promotion starting at least a week ahead, and in more places. Traditional methods like postcard mailings and supermarket community board tear off’s should all be already part of your arsenal. Knocking on neighbor’s doors and door hangers are also part of this. The real estate coaches at Weichert teach a philosophy of keeping it personal, so there’s nothing like a phone call or personal note to get a response from the hotter prospects in an agent’s sphere of influence.

But what about the digital world?  Promotional strategies that do not fully include digital are leaving behind an increasingly large segment of buyers, especially millennials.  Here’s a quick checklist of activities you should consider for promoting your open houses online:

  1. Feature Open House listings as visual content on the homepage of your brokerage website, which link to the listing on your website.
  2. Have the agent write a blog for your brokerage website about the home and the open house.
  3. Promote the blog and the open house on Facebook. Spend a few dollars on Facebook advertising to reach the friends of your followers in the local area, starting about a week before the open house.
  4. Use the open house listing features available online. Weichert.com, for example, has a robust open house mapping feature that all agents are free to use.
  5. Put a home listing and open house ad on Craigslist.
  6. Post the Open house on LinkedIn from the brokerage page. If you are connected to corporate relo folks, make sure you message them directly about it.
  7. Email Blast! Use your email list or CRM to feature the listing to the many clients and prospects you’ve collected over the years. Send this email about 48 hours prior to the weekend of the event.
  8. Use text messaging to hit buyers as well for whom you have a mobile number. This is especially effective with millennial aged homebuyers. Hit them at least twice, both before the event, and the morning of.

Use the Open House Management Features of your CRM

Most brokerages employ a real estate CRM of some type, but many just use it to send out invites or enter contact data for only the hottest prospects. If your agents are guilty of this, or your CRM lacks robust features around open house management, you may be leaving money on the table. Weichert, for example, has a proprietary CRM which provides an open house management environment that is simple to use before and after the Open House for both promotion and follow up. Weichert also has an Open House sign in tool that feeds the CRM for follow up by agents.

Contacts can be tagged for immediate or subsequent follow up and all contacts are instantly available to the agent for future marketing initiatives.   Reminders and easily customizable email templates and graphics round out the capabilities that diligent associates will use to improve the reach of this open house, and all future open houses.

Good Open House Promotion Pays Off

Open Houses require a lot of planning, but if you do it right, the upside is tremendous. We can tell you from experience, a comprehensive, energetic and positive attitude toward open houses and having a structured system of executing them makes all the difference. The opportunity is there, you just need to know how to harness it. For more information on how Weichert gives brokerages a winning edge in all aspects of real estate, call our team at 877-567-3350 or visit our website at www.weichertfranchise.com

*2017 National Association of REALTORS® Profile of Buyers and Sellers. 

**Based on a private study by Weichert, Realtors.