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Is it fair in this market to give a new agent only 60-90 days to produce?

By Neal Bloom

Real Estate Agent with Brokered by eXp Realty LLC SL # 3014652

November 01, 2006 10:38 PM

Is it fair in this market to give a new agent only 60-90 days to produce?

I just wonder what is really right or wrong.

I came across an agent I used to work with who is still working with the company I previously was with for 5 1/2 yrs, but I decided to move onto bigger and better things.

So we were talking about the situation she is in as management has changed quiet a bit and she was telling me agent turnover was so high, that this manager they hired is more a figurehead having another agent act as director of sales when the manager is not present to sign off on documents or approvals, and she was telling me how the manager would hire new agents, give them 60-90 days to produce or terminate them.

Is it really fair to put a new agent under that type of pressure? especially in a market that is drastically changing and is a bit stagnant right now.

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Neal Bloom

Brokered by eXp Realty LLC - Weston, FL

Realtor CRS-Weston FL Real Estate

David,

That would be a good idea, they should,but it all comes down to street smarts and a little luck at first, they need to see how it is when there are no relatives waiting to buy or sell ,they need a hard transaction with a stranger to wip 'em into shape!

Most office are just looking at the numbers and the agent retention rate, if they get them with desk fees for a few months and they are not doing anything to get started, they will terminate them any way.

Thanks!

Mar 18, 2007 05:10 AM

Neal Bloom

Brokered by eXp Realty LLC - Weston, FL

Realtor CRS-Weston FL Real Estate

Danny,

Just like you said, I agree, it is not a quick fix.

That is why it is easy to go work at almost any company,they take you to fill the chair, then if nothing happens, you are most likely gone. NEXT!

I would rather not drift, in my 11 plus yrs I have only been with 3 companies,1 in NY and 2 in FL, 1 because I moved from NY to fFlorida, the other was about a yr ago ,now with Remax,because of philosophies, I love it at Remax, they let me run my business the way I want as long as it is legal and ethical.

Mar 18, 2007 06:08 AM

Robert McArtor

RE/MAX Components - Fallston Maryland - Bel Air, MD

Top Listing Agent for Baltimore and Harford County

If I were told that up front, I would run as fast as I could. I do believe though, you...as new agent...need to bring some "skin" to the table! (abilities)

Mar 18, 2007 06:14 AM

Neal Bloom

Brokered by eXp Realty LLC - Weston, FL

Realtor CRS-Weston FL Real Estate

Robert,

Of course they have to try...I usually tell new realtors, it will probably take you 6-12 months to know if you will last in this business, but that is if you put full time effort, part-timers never make enough unless they are lucky.

I actually had part-time other income to pay my advertising expense until I was on my feet.

Mar 18, 2007 06:23 AM

Christine Forgione

1 - Whitestone, NY

Associate Broker

"Is it really fair to put a new agent under that type of pressure" - Yes. I think it is. I may come off sounding like a cold hearted ... you know. But, coming from my point of view is this.

As a new agent that I hire, I realize that there are 100's if not 1000's of offices that this new agent could have gone to, there is a reason why he/she chose my office. I am not here to make friends in the office. I am not here to have coffee clutches and I am not here to idol chat about - crap. I am here to help THE NEW and old agents MAKE money and if a new agent or an old agents feels pressure from me, then they should leave. LIFE is full of pressure. Deal with it and produce. I am not here to hold licenses and I am not here to finish agents deals. Learn everything that I teach and KNOW the market. (that is a main secret in my office)

Now - let me give the lighter side. In my office I LIKE my agents. Really. I would have picked them to be friends.. and I picked them (or they picked me) to work with. But in Real Estate, its fast, it can test your patience and it can be full of rejection. If you can't overcome those pressures, then you need to really re think your career choice. I don't ever want my agents to feel like they are unwanted or unappreciated and I do show them, but if I have an agent who for 4+ months has not produced and I have sat down with them to see or to try to understand why there is a dry spell and we can't come up with a solution then another course of action needs to be taken.

So, yes I have a probation time of three months and if a deal is not completed within that time or a glimmer of a deal being done, then I would terminate.

Apr 24, 2007 01:27 AM

Kelly Sibilsky

Licensed Through Referral Connection, LTD. - Lake Zurich, IL

I think offices would be more successful overall if they put some expectations on their rookies. I left an office after two years because the office just let agents "hang around"...honestly there were (and still are) agents within that office that never sold a property, were part-time, or sold 1 house a year. Why would I want to be affiliated with a company like that? So, it goes both ways, as an agent, you should want to have expectations to be placed upon you...and as a manager, you should provide whatever training, assistance, mentoring, etc. you can to get those agents off to a good start. I don't know if a time frame is appropriate, but perhaps another type of accountability...what is the agent doing? Sitting floor time, sitting open houses for experienced agents, mailing, networking...if they can show what they are doing and how hard they are working...

Apr 24, 2007 01:50 AM

Matthew J Blum - (retired from the business)

Palm Beach Gardens, FL

Neal Great post!!! you do know how to get the discussions going. You must always have a time table. I would think 60-90 days is plenty. It really separates the boys from the men. ( sorry Ladies) How bad do you want it.

Apr 24, 2007 03:21 AM

Neal Bloom

Brokered by eXp Realty LLC - Weston, FL

Realtor CRS-Weston FL Real Estate

Hi Christine,

I had the feeling you would have some different type of reaction being on the other side of the coin.

But even though I do not know you I think you are different more of a hands on type and would offer some assistance to the rookies ,unlike this person who only cared about have cocktail parties and delegating everything else to inexperienced agents and giving them a title.

If you offer some sort of training then give it.

If the agent is willing to work hard for it and show they can produce ,then let them prove it and if not then of course they both are wasting time.

I just think with you not being there it might be hard to totally relate to this situation.

But I respect you opinion and I was glad you took the time to read this link that I sent you.

Kelly,

Same situation.

If you are looking for some direction great then prove you are willing to take time to learn or if you just want a license and never move forward then it is best for that type of agent to move onto a company that will tolerate it.

Matt,

You know I love these types of discussions.

Apr 24, 2007 09:56 AM

Lisa Balsom

Hometown Realty - Ashland, VA

Accounting Manager, Hometown Realty RVA

In our office, I see management trying to help the new agents hit the ground running. Classes are offered....Brainstorming with Top Producers is encouraged and the Broker/Managers in each office are encouraged to help ALL agents in their respective offices stay on track. I have never heard a hard and fast time frame for being told to "Produce or Get Out", but I see a great deal of "What can we do to help YOU be successful"

Apr 24, 2007 10:40 AM

Neal Bloom

Brokered by eXp Realty LLC - Weston, FL

Realtor CRS-Weston FL Real Estate

Lisa,

As long as they get the proper training I do not see why they cant produce ,it might be harder in this market bu they have to at least try full-time.

Thanks.

Apr 24, 2007 11:32 AM

Christine Forgione

1 - Whitestone, NY

Associate Broker

But even though I do not know you I think you are different more of a hands on type and would offer some assistance to the rookies ,unlike this person who only cared about have cocktail parties and delegating everything else to inexperienced agents and giving them a title.

Oh - You have me pegged so wrong! I tell my agents from the second that they walk into the door that I rule. Do as I say and follow what I tell you. I have a whip that has beaded ends so that way my agents bleed when I whip them. I am mean, I am tough and I won't tolerate any kind of laughing or fun. When they walk into my office they are on MY TIME and I own them.

OK - So I kid ya.

I train my agents. I try to be there with them without clouding or taking over for them. I can usually tell if an agent will get it with in a week or so. If I have to keep going over the same things over and over - then they are wasting everyone's time and I could be losing a valuable customer/client.

Apr 26, 2007 06:13 AM

Neal Bloom

Brokered by eXp Realty LLC - Weston, FL

Realtor CRS-Weston FL Real Estate

Christine,

Ha!

Love it...although i just read my quoted comments..sorry but it seems I must have been drinking while typing.

That could have been dangerous!

I respect how you run your business.

I still think the situation is different from yours unless you were considered in my mind to be an absent T manager.....but heck what do I know I am just a stupid Realtor!! HAHA!

Apr 26, 2007 07:00 AM

Gary L. Waters Broker Associate, Bucci Realty

Bucci Realty, Inc. - Melbourne, FL

Eighteen Years Experience in Brevard County

Brokers are in the numbers business. Recruit more agents, hope they produce. Don't keep a non-producer too long. I know some Brokers would disagree but the truth is.... more agents, quick sales, more profit. By the way I think such an approach is a disadvantage for new agents. Patience is a virtue!

Apr 26, 2007 12:52 PM

Neal Bloom

Brokered by eXp Realty LLC - Weston, FL

Realtor CRS-Weston FL Real Estate

Gary,

I just think a new agent will have to be more patient to produce in this type of market and in order to survive they have to work full-time and be able to follow up.

The question is how much time do you give and i guess it depends on the person.

Apr 26, 2007 01:06 PM

Christopher Webster

EXP Realty, LLC - Columbia, SC

Columbia South Carolina Real Estate For Sale

It's a good thing that I had 3 sales my 1st week. It was slow after that. I now sell several homes a year! It kinda depends on company I guess!

Apr 26, 2007 01:07 PM

Neal Bloom

Brokered by eXp Realty LLC - Weston, FL

Realtor CRS-Weston FL Real Estate

Chris,

Any sale is good in this market.

You take what you can get.

Apr 26, 2007 01:18 PM

Jim Bishop

Morgan Stanley - Dublin, OH

Brokers,

If management is results based only, then you better accept the path taken to get there.

Long term success is activity based. If the activity is not done (you will know), do not wait 60 days, it will never come.

If you have is no way to measure activity as the manager then you dont have a system. If you dont have a system then the new agent's failure is your fault.

Apr 26, 2007 01:58 PM

Neal Bloom

Brokered by eXp Realty LLC - Weston, FL

Realtor CRS-Weston FL Real Estate

Jim,

I am not saying there shouldn't be some direction but if the broker or manager is not helping matters and wants to delegate...don't you think delegation should go to someone who is a little more seasoned in the business than not?

All situations are different there could be things that hold up the deadline just as most of our deals get held up for certain reasons I cannot discuss.

Apr 27, 2007 09:24 AM

Jim Bishop

Morgan Stanley - Dublin, OH

Sorry Neal,

I am actually in agreement with you but maybe I dont blog clearly. We all know when someone will not get up in the morning and can not be on time, more time does not fix some bad habits. But everything else, everything falls on the broker to have a system of success that is based on activities. That does not mean the results come in the same time from one agent to the next, but if the activities are right, results should follow.

Apr 27, 2007 11:12 AM

Neal Bloom

Brokered by eXp Realty LLC - Weston, FL

Realtor CRS-Weston FL Real Estate

Jim,

I know you are.

I was just making a statement.

Apr 27, 2007 01:02 PM

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