In terms of agent productivity, there’s no greater tool in a brokerage’s arsenal than coaching. Teaching real estate agents the power of goal setting, planning and accountability can make all the difference for individual bottom lines and wider company-set objectives. All of this and more was discussed in the latest RISMedia Content Solutions Webinar entitled, “The Power of Coaching: Unlocking Potential, Unleashing Profit,” sponsored by Moxi Works and moderated by Verl Workman of Workman Success Systems.
“We average about 13.5 transactions per agent,” said OB Jacobi, president of Windermere Real Estate. “For us, it’s all about our agents’ production and happiness. If we can continue to increase that through coaching and training, that’s the key to our success.”
For Jacobi and his company, coaching is all about becoming the support system their people need, which trickles down to their customer base throughout transactions. Their customer-centric business strategy allows them to properly serve their buyers and sellers; this dedication to consumers permeates throughout the company’s culture.
Finding a system and sticking to it is imperative in order to strengthen the efforts of all involved. Windermere landed on Ninja Selling to help get the job done. Through Ninja Selling, agents experience a four-day intensive program, and afterwards, managers follow-up with the agent population to offer further support.
“The key to all coaching is accountability,” said Jacobi. After creating a business plan for the year ahead, Windermere uses the Moxi Works platform and manager dashboard so agents can set goals and keep MLS statistics tracked. Managers can see these stats and address issues on a very specific basis. Managers may also make notes in Moxi Works, using it as a management tool to make sure agents are engaged and following their business plans.
“Our goal is to have agents who have lots of transactions and are happy with their business,” said Jacobi.
In addition, Windermere hired Eric Thompson, former CEO of The Group, Inc., to head up a manager coaching program that deals specifically with holding agents accountable, business planning, how to hold a profitable office, etc., which fills the gaps found in other industry offerings. Manager coaching is done via live seminars, online training, one-on-one coaching and research and documentation.
Regardless of agent or manager, the biggest pushback is consistent engagement in whatever training or coaching the company subscribes to, said Jacobi.
“We try to create the tools and the why behind it to get agents excited. We’re trying to help them run a profitable business that is customer-centric that they can be excited about,” said Jacobi.
For Jeff Detwiler, president and COO of The Long & Foster Companies, there’s a clear difference between agents in the top 25th percentile and the rest. That difference: Those who have a plan vs. those who don’t.
“In my mind, I would say those top 25 percent are real estate professionals, and the remaining 75 are really agents with a license,” he said.The other 75, he said, need additional development, and that’s where coaching comes in for Long & Foster.
“Develop a coaching program to educate and promote the need for a plan, to set goals, monitor performance, and how to hold yourself accountable,” said Detwiler.
Agents who have a structured way to approach the sales aspect of their business are far better off. With a sales discipline in place, agents can boost their business to become the real estate professionals they always wanted to be. This includes conducting activities today for tomorrow’s transactions…or as Detwiler puts it, “Planting seeds today for tomorrow’s harvest…that’s what we try to train them on and get embedded in their thought process.”
Long & Foster’s ultimate coaching solution was a thorough training showing agents that it’s really about touching your sphere as frequently as possible. Agents are coached on how to utilize their sales discipline, how to set goals and monitor them, and in agreement with Jacobi’s thoughts, provide some sort of accountability.
“Accountability is essential,” said Detwiler. Detwiler’s company also uses Moxi Engage, which makes connecting with your sphere “simple and efficient.”
“The dashboard allows managers a great platform to coach from—it has a built-in accountability feature. Ultimately, we think it leads us to success,” he said.
In order to boost agents’ productivity and happiness, coaching is a must-have component to any thriving real estate company. To be without coaching would be counterproductive for agents, companies and their consumers.
“Untrained agents are destined to be a minority success,” said Detwiler.
View the webinar in full here:
This post was originally published on RISMedia’s blog Housecall. Check the blog daily for top real estate tips and trends.