Continuing on from Part I of my last blog on Stopping Buyer Agent Madness…we believe that our Billion Dollar Agent model is better than the Buyer Agent model of having one person do calling, showing and closing work.
There are far more people available who can do a great job at calling, showing or closing work than people who can do all three tasks with the same energy and skill.
Do you think your Buyer's Agent is able to organize and run a mailing program to mail a series of buyer marketing cards to Buyer BC leads over 6-12 months?
- Calling
- Stop hoping that your buyer's agent will actually call leads for 1-2 hours per day
- Stop pretending they are calling when you know they are not
- Stop trying to make a Showing Agent do calling work when they hate it and dread it
- Hire other people to do calling work such as in-house Callers or Best Agent Business Callers
- Showing
- Stop paying your buyer's agent $100-200/hour to spend 5-10 hours to show property for a lead which you created or gave to them.
- Hire Showing Agents at $20/hour to show buyers. We can help with recruiting, systems and management.
- Closing
- Just like you delegated closing work as you grew, a buyer's agent who is producing should not be doing closing work themselves.
- Do you want a salesperson to be doing assistant work?
- Let your Closing Assistant (Transaction Coordinator) do all closing work for your buyer deals. Charge your buyer's agents the $150-200 needed to cover that cost or work that into your system.
- If someone is covering the 5-10 hours per deal of closing assistant work and mental interruptions, then the salesperson agent can be spending more time calling or showing buyers.
Steve's Musings
The database and lead management needs for top agents keeps getting more complex and harder, not easier. This is a huge challenge for our clients and our company. Every new system means it is more likely that leads can get lost in the shuffle. There is no magic system that does it all. Nothing even comes close. Most top teams have at least 3-4 major lead sources which are managed separately.
We have designed an internal tool to help with greater clarity on management related to Logins which we implemented last year. My idea relates to expanding tracking of Logins to also note monthly cost of that service, quality of leads, leads per month, how they are managed in database flow and who is responsible and working those leads and getting new lead assignments. Most of you have 5-10 lead sources currently such as incoming email, incoming phone, 800 Phone IVR, Zillow, Trulia, Realtor.com, one or more websites, Expired/FSBO data and more.
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