RISMEDIA, August 4, 2010—Each and every month you invest in occupancy, utilities, technology and other needed items to run your business—those ongoing expenses that you must have, but don’t create revenue. Truth is, the quickest way to a profitable office is to have a team of motivated and well-trained real estate agents.
As I make calls around the country to real estate brokers and leaders to discuss our online training, I consistently hear that there is no budget for training. How can you not train your agents?
I hear comments like: “My agents won’t attend training,” “Most of them are inactive,” “I can’t get a third of them to even show up for meetings,” “Half of them haven’t had a transaction in months,” “They just won’t watch a training video,” “I haven’t seen many of them lately,” “Most of them won’t even open the emails we send.”
So the first question is, why do you keep this group? The second question, why don’t you train the rest? As one of our members, Tommy Camp (Prudential Carolinas) said, “You can’t cut your way to profitability.” At some point you must re-invest in your people and your agents need skills training now, more than ever.
Some real estate training thoughts for you to consider:
Training is not just for new agents. Those managers who are only putting into practice training/coaching sessions for the new agent population are making a great start. But every professional, including your veterans, needs to consistently and diligently drill and rehearse. Without it, they get rusty. Rusty agents don’t get listings or put together sales.
Teach your agents well. What alternative do you have but to invest in training your agent population? To give in to the “you can’t teach an old dog new tricks” philosophy is like waving the white flag of surrender. To detach from what the “newer-younger” generation of agents is working on is like suicide for your office; group accountability and coaching is a key way to build some camaraderie and relationships in your team. Without strong relationships, what is there in this business?
Hold your agents accountable. The definition of accountability, from Princeton.edu is, “The responsibility to someone or for some activity.” At your next agent gathering, discuss the definition of accountability and how to put it into practice in your firm. Don’t accept anything but a firm verbal commitment from agents along with demonstrated activities to match. If they are not willing, then set them free. They are just eating your time, spending your dollars and dragging down the office as a whole. Stand up and lead your agents; help them do some business or help them out the door.
The bottom line is—and this is the final question for this article—what are you doing to help your agents be more successful? You know, those people who have the most direct correlation with your fiscal results. How can you not train them?
To find out more about the David Knox online video library, visit, www.realestatetrainingbydavidknox.com or call 1-800-822-4221.