After managing over 12 years in large offices, I think I have a good feel for why agents fail, especially new ones.
I am convinced that if you do something and do it well for long enough in real estate, you will prevail. It doesn't matter whether that is floor/up calls, open house, knocking on doors, farming, etc, etc. if you do it well and creatively, you will always win. the problem is that most new agents start at the wrong offices. Too often they are looking for bigger splits and wind up at a small office with a really nice broker, who promises them training, which really never shows up. Often, that broker, although well meaning is still an active agent and actually competes with the new agents
the true test is for the new agent to ask to see the planned training schedule for the upcoming month. If there is none, then you are in the wrong place. I don't know how many agents I have hired who wasted their first year at the wrong company and finally realized they were not getting what they needed. Even the big companies is not necessarily the answer. When I was at Coldwell Banker, I had 2-3 different classes per week, plus outside speakers with a published training schedule and a reminder email going out each week. I also made sure the agent knew about all the classes at our association. Other offices did not hold that many class because that was not the focus of that manager.
So, the most important thing that needs to be done is to have someone in their new office helping them to put together a plan which should include 3 hours or more per day prospecting or praciing scripts . That will change later but a new agent has nothing else to do, so why not prospect. That can include putting together farms, listing presentations, etc, etc. Then, someone has to meet with them several times per week to see how they are doing. This is where teams can really help and take some pressure off the manager. If an agent is unwilling to do this for their first 90 days, they shouldn't be hired. Too often I think that agents are recruited by managers who are not telling them the truth about the work. they also aren't honest about how long it will take to make your first deal or the fact that you should dedicate dollars to this new business you are starting.
Now I feel better.
Comments(1)