Increase Per agent Production
Per agent Production starts with the leaders…not, the agents. Though production is generated by the agents, it is most influenced by the company’s operator.
A few questions:
1. What business are you in?
Consulting and Coaching business?
Or, Real estate?
I am the real estate agent consulting business. I help build profitable careers for real estate professionals.
2. What do you believe an agent is capable of producing?
The average or a number much larger?
I believe any full time agent can and should be doing 30 deals per year
3. What are you looking for in an agent?
I‘m looking for these characteristics through my hiring process…
Desire – to succeed. Someone who wants to win the game!
Commitment to Structure – someone who likes routine.
Coachable – someone seeking a leader to lead them.
4. Is your environment set up for success?
Standards for getting to the office in the morning at 8am
Role Play Standards
High Energy music
Stand Up Work Stations – believe it or not, none of myagents have an office or a sit down desk.
The questions and answers I just gave is an attempt for you to understand the mindset and approach I take with my agents from day one. I am very serious about helping build profitable careers for those who choose to work at my office
The Process that Leads to Increased Per Agent Production:
Test Drive: Before you discuss the possibility of working together, ask the prospect to visit the office for a few hours and observe what my agents do each day. Allow them to see the inner-workings of the operation so they can determine if that is how they want to run their business. The Not-So-Serious agents will go away fast leaving you with those that really want to build a career and are willing to take a proactive approach.
If you did this in my office, you would see the majority of my agents prospecting everyday for 3 hours. You would see some of the newer agent’s role playing together. You would see agents shadowing other agents on the phone listening to their prospecting calls.
You would feel as if the office was intense yet you would see all of the coaching available and feel safe that we were going to show you how to be successful.
Before I hire an agent, they have seen what we do…most of them don’t come back. Those who stay, have great per agent production.
Hire smart: Do not rush to hire a lot of people, rush to hire the RIGHT people.
After they have observed your office, ask them if they feel they could enjoy working in this environment.
Ask them to tell you about a time where they demonstrated a strong desire to succeed.
Ask them about a time where structure was critical to their success.
Ask them what was their best coaching experience?
This conversation will reveal very quickly if they are the type of agent that will produce at a high level.
The agent who has a desire will practice scripts and get on the phones and prospect.
The agent who likes structure will prospect everyday consistently and treat lead generation like a ritual.
The agents who are coachable can be led to success.
Train Fast: The following is mandatory for my agents:
Recording and review of live calls and presentations
Attend Weekly Coaching conference call
Study all of my past coaching articles for different aspects of the business.
Training is the Game Changer!
Did you recall when Brian Buffini said his average client earns $186,000 in his program versus the $22,000 average of all realtors?
That is the difference between trained or untrained.
****If you don’t feel confident in your abilities to train, go hire a trainer to do a weekly coaching conference call for your entire office. You can find someone good for $3000 a month easily. If you have 50 agents, that’s $60 per month…the agents will pay that…
Now you are adding value.
Create the Vision: What is your company vision? What is the agent’s vision? If you do not have a vision then your agents won’t either.
The vision is what allows people to experience success before success actually appears. The vision is the motivating factor that pulls them toward their goals.
- do you want to have the most agents in town?
- do you want the most closed transactions in town?
- do you want to be the most profitable in town?
Maybe it is a combination of these yet be clear on what you want and execute a plan to get you there.
Remember, you are their leader and they want to know you are clear on where you are going. They are more likely to follow a leader who has clarity of vision.
Create the Culture: You must create a positive culture where everyone is willing to help their fellow agent.
New agents shadow experienced agents on appointments as well as presentations.
There are training materials and videos running in the office daily.
We discuss personal goals as well as business goals knowing that it all works together.
We share our successes and copy each other’s strategies.
Agents have accountability partners
Music provides energy.
We are NOT competing against those in the office, our competition are those NOT in our office and we feel working as a TEAM is the key to winning the game.
Real Estate is a Team Sport!
Set Goals: As a leader, we must help each agent create individual goals.
Most agents do not have goals because they don’t know what is realistic or they don’t know how to structure their goals or business plan to reach them.
This is where you can offer ahuge value to your agents as the competition is always lacking in this area. The agent will need your assistance to do this.
Make it mandatory in the office to have a goal and a written execution plan.
Hold them Accountable: Don’t think that they don’t want to be held accountable. They actually love what accountability does to their business and profits.
Be bold; review how they are doing in a monthly or quarterly meeting.
I look at the numbers every week (contacts, appts, listings, new contracts, reductions, etc)
If they are lagging behind, talk about it and ask them to recommit to their business and families.
You must form a coorelation between their financial success and accountability.
Lead by example: Demonstrate all of the above in the pursuit of your goals so they know that you are not just preaching, you are actually practicing.
I have have a coach who coaches me on coaching my agents.
Results and Benefits of following this path:
- No drama – agents are too busy seeking abundance versus stuck in scarcity mode.
- Loyalty – people stick around for a long time because they are always experiencing growth.
- Stability – the numbers are predictable and duplicatable
- Increased Production and profitability – takes few agents to reach higher financial goals
- Attract great referrals – Agents know what is expected and refer people who fit the mold.
- You have an added value that no other company has. It’s hard to recruit against VALUE!
Your Next Move:
The first few steps to increasing your per agent production are:
1. Evaluate your vision for the office. Determine if you are really committed to per agent production or if total transactions with lots of agents is your true mission. Either of ok yet you have to be clear. Your clarity will dictate your next move!
2. Look at your roster of agents and ask yourself who has the three most important characteristics;
Desire, Willingness for Structure and Coachable.
Have a sit down meeting with that small group and discuss what it would take to grow to the next level. You have to share the vision and get their buy-in first.
3. Set up a few systems and structures that would support their desire to grow.
- Example, have a company staff member provide them with the Expired’s and the FSBO leads each morning so they don’t have to do the research..Now they are obligated to call.
- organize an all day prospecting session
- a price reduction day
- a lead follow up day
- one Think Tank Session per week
They see this as an added value that you provide.
4. Talk about their goals and help them write a business plan based on what they want to accomplish.
- remember, every agent must have a written goal and execution plan
- schedule a weekly meeting to review their progress.
5. Ask permission to hold them accountable for 90 days. After 90 days, re-evaluate to see if it is working.
- if it is an agent who prospects then hold them accountable for more contacts.
- non prospector….focus on past client calls or Craigslist ads. Something simple yet gets them in action.
- hold them accountable to arriving to the office at 8:30 and generate new business until 10:30……this will make everyone a lot of money!
6. Start with a few, help them increase their production, others will watch and eventually a few more will request the same attention. You are now on the path of increased agent production.
My final thought…
I think our business has changed. The agents in the industry have more control…they can hire Zillow or create websites to provide them leads. Every company in town is recruiting your agents and offering them better splits, capped commission programs and other attractive incentives.
What is going to separate us from our competition?
I think we, as leaders, must Add the most Value in the market…
You can be the cheapest…
You can be the most expensive…
You can add the most value…
The company who is perceived to be the BEST VALUE will likely be the most profitable.
Value is determined by what the agents receive in return for what they give.
We must give them more training, more ideas, more accountability, create the space to have more fun…
When you add more value in the eyes of your agents…your agents reciprocate by adding more deals through harder work and dedication. The more committed you are to their growth, the more committed they are to your growth.
We must BE their Leader!