Tag Archives: real estate coaching

Undeniable Traits Of A Successful Leader

As a real estate broker, you are no longer directly responsible for leading buyers and sellers through the complexities of real estate transactions. Instead, you are now charged with the responsibility of successfully leading your team of real estate agents to reach their potential. While there are many traits and skills that make up what most would consider a successful leader, there are a few that serve as the cornerstones for every broker. As you strive to become the best leader you can be for your team and your business, focus on the development of these must-have traits.

Authenticity

The greatest leadership wisdom taught in lofty places like Harvard has to do with being authentic. Authentic leaders are said to value input and feedback, are positive, truthful, and open. They build trust and generate enthusiastic support that improves both individual and team performance.

Consider that a career in real estate can feel like a roller coaster, full of ups and downs. For some real estate agents, the downs can lead to doubts in their abilities and fears about their future. As their broker-leader, you can help shoulder those burdens by being an authentic leader who has both empathy for their situation, but whose enthusiasm and positivity helps them stay focused and motivated. Being an authentic leader, also helps creates the authentic culture in your brokerage that will minimize turnover and help improve production.

Recognition

There is nothing more demoralizing than having those you look up to ignore your strengths and accomplishments. As a leader, it is your job to give recognition to those agents that perform well and showcase exceptional talents. If you hold team meetings, you may want to consider regularly giving out awards or tokens of recognition to worthy individuals. Certainly top performers should be recognized, but there are many things you can recognize people for. In the spirit of being authentic, just make sure they are recognized for real achievements.  If you look hard enough, everyone has something meaningful they have achieved that you can hold up for your team.

Humility

Everyone makes mistakes. The difference between an average joe and a successful leader is that a leader is humble and willing to admit their mistakes. This is another attribute of the authentic leader, the willingness to admit mistakes. In fact, as a real estate broker, you have a special opportunity to use your hard earned knowledge to save your agents from wasting their own time, money, and resources in the same ways you may have as an agent. By exercising humility and openly leveraging your mistakes into lessons, your entire team can work smarter and will have deeper respect for you as a leader.

Empowerment

One of the first things you had to learn to do as a broker was to stop selling homes yourself. Now the next part is actually empowering your agents to do the selling and make them as good at it as you were. Don’t be a broker who swoops in and personally fixes everything, whenever a deal hits a rough spot. Instead give your team the training they want, the advice and support they need, and the encouragement to be successful. Agents who feel empowered and supported, and who are not micromanaged, will take more initiative and over time will develop into more productive and motivated sales associates.

Accountability

If you strive to lead an all-star team, you must lead by example by being accountable for what you say and do. This really means getting back to some basics like saying what you will do, and doing what you say you will. Since the buck stops with you, some things will naturally float up to your level, and when agents see that you will jump in and handle the big challenges, their confidence in your leadership will grow.

Accountability is actually one of the important skills Weichert teaches its brokers through the Weichert Management Academy. The academy, open to Weichert owners, brokers and managers across the country, teaches attendees all the important elements of building a successful team and managing a successful business. In this training the behaviors that constitute accountable leadership at every level are discussed. Being accountable means employees will feel your organization is solid, and that they are both well supported, and empowered to move their business forward.

There’s Always Room To Be A Better Leader

As a real estate agent, you successfully developed your abilities as a salesperson. As a broker, your focus shifted to being an effective leader. If you think you could benefit from leadership coaching and training programs, as well as a collection of production boosting tools and systems for your agents go to weichertfranchise.com or call 877-746-2067.

 

Help New Agents Avoid These Three Critical Sales Mistakes

A Broker’s recruiting strategy if done well, should attract some experienced real estate agents, but much of your agent growth is likely to come from agents who are brand new to real estate or who have little experience.  Your goal with these new associates is to get them up to speed and make them productive as quickly as you can.

After decades of coaching and training brokers and their agents, Weichert understands the most common challenges new agents have. As a broker, you can provide the coaching and training these agents need in order to avoid the common pitfalls associated with learning our industry and make their entry into the real estate world more rewarding and productive.  Here are three of the most common mistakes that new real estate agents make and how you can coach them through.

1) Giving Up Too Quickly

In the movie “Cool Hand Luke”, Paul Newman’s character famously utters the line: “What we have here is a failure to communicate.” He wasn’t talking about new real estate agents, but he could have been.

New Agents often take the words “not now” or “in the future”, as indications that there is no sales potential there and they let the contact simply die. But experienced agents and brokers know that lead nurturing in real estate can take weeks, months, or even years to come to fruition. And if you’re not front of mind when a customer is finally ready to move, they will move without you. Successful agents have built a solid lead funnel and steady book of business by leveraging years of consistent follow-up and outreach with their contacts and their local community.

It may seem obvious in 2019 to mention that social media can be one of the best ways to follow up and stay front of mind. Despite the current generation’s comfort level with web 2.0 and technology, new real estate agents still generally need coaching on what tactics on these portals will help them build their personal brand without seeming overly spammy. Follow up on social media also has its own set of rules, often depending on the platform you are using. But one rule applies to all of them: no outreach should be ignored or neglected. These little interactions, done in a timely manner, are the bricks they will use to build a real estate career.  As author Jim Rohn wisely observed, “The fortune is in the follow-up”.

2) Forgetting to Make It Personal

New agents have such a comfort level with all things digital it can sometimes be hard to get them to fully understand and embrace the power of the personal. The power of the personal is at the core of the Weichert philosophy, from our network of owners that know and help each other to our recipe for a successful real estate agent.

New agents need to make sure they build and nurture their personal brand in both online and offline activities through both personal and digital interactions. As a broker your job is to give them the tools that they need to develop their brand while being consistent with the message and brand of your brokerage.

While digital tools are great to efficiently stay in touch through social media, email and texts, encourage them to get out there and be nose to nose with potential clients. Door knocking, phone calls, open houses, participation in community events and seminars. These are all ways for new agents to have their face seen, make eye contact, shake hands, have real conversations and be memorable. Keeping it personal should be at the core of you and your agents’ communication philosophy.

3) Not Using A CRM System

There is no reason why new agents can’t get right into the habit of using the brokerage CRM tool to its fullest potential. An effective real estate CRM can be a big help with staying front of mind, helping new agents organize their contacts and keep in touch with buyers and sellers and other real estate professionals in their ever-growing sphere of influence. Conversely, it’s important that you offer this technology to your agents to help them be as productive and efficient as possible. The Weichert CRM system, for example, provides a central location for storing current and prospective client information and advanced tools for planning and follow-up on open houses ensuring you make the most of those contacts. Other elements include marketing automation that allow agents to send branded emails to select contact lists with minimal time and effort. The mobile app extends this convenience even further, allowing for updates and notifications to happen wherever they are.  As a new agent builds their database in the CRM, all sorts of marketing tools and templates will be at their disposal. The work they do now to build these lists, will pay dividends for years to come.

Effective Agent Coaching Is Key

The best way to make sure your new agents are productive as quickly as possible is to have a proven training system in place that coaches them past these and many other initial pitfalls. Perhaps the single strongest benefit of being a Weichert Franchise are the proven systems we provide to brokers. These have been developed and refined over decades, so you don’t have to develop them yourself. All you have to do is plug in. Becoming a Weichert Affiliate gives you access to effective coaching programs, marketing tools, and a CRM system that supports lead generation. As a Weichert Franchise you have a complete, turnkey system that provides your brokerage with the tools and training that leads to growth.

For more information about how affiliating with Weichert can help build your brokerage, call us today at 877-567-3350 or contact our team online.

Tough Love: How Mentors Can Bring Out Your Best as A Brokerage Owner

It takes an entrepreneurial spirit to build a successful real estate brokerage. You’ve crafted a long-term vision for your brokerage and hired a skilled real estate team, putting your talents and efforts into creating value for customers. As an entrepreneur, you’re always looking for ways to improve your processes and your people and ultimately grow your business. You don’t have to do it alone. Partnering with a mentor for support, frank talk about your bottom line, and new ideas is a great way to ensure your brokerage meets and exceeds your goals and keeps moving forward.

Benefits of Having a Mentor

A mentor, like any good coach, will be able to identify and hone your strengths.  Your mentor will also help you recognize and remove obstacles to success. Beyond those two comprehensive benefits, a mentor helps challenge you and can bring out your best performance in the following ways:

  • You’ll gain knowledge your mentor gathered through experience. Real estate training and textbook information are essential, but first-hand accounts of challenges (and solutions) are valuable lessons only a mentor can offer. A mentor can guide you past potentially expensive missteps and find more efficient ways for your team to work.
  • A mentor’s objectivity makes it easier to improve performance. Yes, a mentor will encourage you, but more importantly, will be honest and direct with you. Great mentors deliver ‘tough love.’  You and your real estate team become stronger when you receive constructive and respectful feedback.
  • Your mentor can assist with goals, strategies, and best practices. You know what’s worked well for your real estate brokerage. A mentor brings new ideas for you to think about when you’re setting goals, developing a yearly business plan, choosing tools and technology, and recruiting and retaining staff, as well as just best practices for good operational management in a brokerage.
  • A mentor helps hold you stay on track. You are there to help keep your agents on track with their goals, but who is there to keep you on track? Your mentor or coach will help keep you on track when you start to veer off course, and help you dig in and cheer you on to the finish line when you are tempted to settle for less.
  • A mentor provides networking opportunities. As you know from your own experience, personal connections and relationships are vital to real estate brokerages. Your mentor will have a network of people you can tap into for additional support if needed.

Choosing the Right Mentor

Qualities of a mentor or coach mirror those you’d expect from a good manager. Look for a real estate coaching program that has the following characteristics:

  • Responsiveness. Your mentor or coach won’t be an active member of your real estate team, but should be available to answer your questions within a reasonable time. Having scheduled times to connect is recommended to ensure accountability. Regular meetings also give you opportunities to discuss current performance and adjust plans and tactics as needed.
  • Favorable track record. Experience and proven results are crucial qualifiers for a mentor’s effectiveness. You’ll benefit most from working with a coach who has been successful in areas you want to improve.
  • Communicator and collaborator. A trust-based relationship starts with an honest and transparent conversation about expectations and boundaries. A good mentor will have your back, but also expects you to be direct about your needs for support.
  • Realistic and positive. A mentor who brings out your best will be frank about what’s possible and rein in ideas that may be a bit unrealistic. Remember, good coaches encourage growth and find ways to remove obstacles.

The best mentors and coaches care about your team’s success, providing the direction and resources you need to achieve your goals. They view their role as an opportunity to help your real estate brokerage thrive and grow.

Finding the Best Real Estate Coaching Program

Interacting with a mentor or coach is more than a week or month-long program. A real estate mentor will coach you and provide feedback as needed. The relationship with your mentor will be most useful when it develops and endures over time. You’re both committing to working together to achieve long-term success.

If you’re ready for the next level of success in your brokerage, then joining a team like Weichert may be worth considering. The Weichert franchise model gives you access to one of the best real estate coaching programs available. You are assigned a business coach who will work with you. The model is based on proven processes that are always there for you and cover almost every aspect of real estate, including solutions to common problems related to brokerage growth. You’ll get:

  • One-on-one business coaching including business planning, recruiting support and financial management training, as well as things such as building culture, implementing change and increasing engagement.
  • Regional broker meetings, rallies, chat boards and national conferences that connect you with other broker/owners in the Weichert network who openly share their solutions to the similar challenges you may be experiencing.
  • A regional service manager to provide day to day support on accessing and using the Weichert tools available.

The comprehensive coaching program from Weichert helps bring out the best in you as a leader and supports your efforts to build your business with proven processes, not guesswork. It’s all part of being in business for yourself, but not by yourself. Like all things Weichert, it starts with “We”.

If you think you might be ready to get started with one of the best real estate coaching programs available, Call us at 877-567-3350 or contact our team today.

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.