Presentation on theme: "11 Regional Owners Meeting 007 Windermere Services Oregon / SW Washington w."— Presentation transcript:
11 Regional Owners Meeting 007 Windermere Services Oregon / SW Washington w
22 Recruiting and Retention and Productivity 8:45 – 9:30 Agent Types recruiting by type- attractors / exercise - do I have a plan / doing the math – who and how many why Windermere BREAK 9:45 – 10 :15 Windermere Accountability Program Randy Stephens 10:15 – 10:45 Roundtable Best ideas Facilitator / Spokesman (3-5 best ideas) Best Idea BREAK 10:50 – 11:30 Interviewing Agents and Managers Vital Few Daily, Weekly, Monthly, Sales Meeting
3 Vital few 20% of the effort produces 80% of the results Trivial many 80% of our efforts gets 20% of results Trivial mandatory Stuff /delegate
4 Why Windermere ? Could you demonstrate …. Branding Culture Tools Training Facility
55 Real Estate Sales Vision – Prospect – Presentations – Obtain listings and sales New Construction Homes (Volume) Resale Homes Recruiting Real Estate Agents Vision – Prospect – Presentations – Obtain Agents for the office New Licensees (Volume) Experienced Recruiting Recruiting Worksheet - rate yourself Recruiting Worksheet - rate yourself
6 Recruiting Not all people are good at all things Concept (have one or adapt one) Communication (leadership) Implementation(managing) All three need to be satisfied lead your office (concept, communication, implementation) manage the skills (who, what, when, where, how)
77 Vision and Retention It should be easier to keep an Agent than find a new one Regular agreement on the office vision and expectations With all Agents / Staff / Owners (twice yearly sales meeting and one on one) Must gain UAS about shared visions or goals Avoid edicts, but all should be accountable to commitments (in particular staff) Meet with New Licensees more often than experienced (track your accountability meetings) Two lunches per week (Office agents, experienced recruit, vendors, competitors) with FORD questions Agents, Staff, Managing Broker come together (beyond ) to build culture Office Meetings – Celebrations – Industry Events Regular Contact / Sharing by the Managing Broker (beyond ) Regular Contact / Sharing by the Office Agents Ideas that have worked for you? w
88 What if … My staff manages all tasks in the office beyond leadership, recruiting, retention and legal emergencies? 1.How has my relationship with my agents changed? (good or bad) 2. How has my relationship with my staff changed? (good or bad) 3.Will the ability to spend more time with my agents and be in front of agent prospects excite me? Why / why not? What if … My office produced increased profits of 100% over last year? 4.How has my relationship with my agents changed? (good or bad) 5.How have my personal relationships changed due to the increased income? (good or bad) 6.How would I feel if … (Brian will finish the question after answers 1-5 are answered) What if this was true today … or The answer for #3 decided my success and income for the next 12 months Office / Company Vision worksheet – what if worksheet – what if
99 We do not need every licensee We need the licensee who fits our Full Service Model. Recruiting w
1010 Not every Agent is attracted to the Full Service Model 15% of agents or consumers will be attracted to a Discount Model or price ( and thats OK! ) Office Model
1111 Discount to Consumer Model Limited service model Gain MLS access with lower fee to the Brokerage Agent attracted by free leads Lack of belief or understanding in Full Service Model(and thats … ok) Discount to the Agent Model Limited service model Attract Agents with limited services and technology for lower fee to the Brokerage Attract Agents who are part time, low production or slowing at the end of their career Attract New Agents conscious of price only (and thats … ok)
1212 New Licensee - Attractors (Need based) Who takes care of me and how do I get trained? Who takes care of me and how do I get trained? Attracted to Brokerage filling their need for support (Manager) and training (15% attracted to price / 85% Full Service) They dont have a chance… but … they have a vision, and they live it until that first closing (Relationship based / Vision) Experienced Licensee – Attractors (Relationship based / Vision) I could work there I could never work there Attracted by your business model (full service 85% or discount 15%) Attracted by your company culture Attracted by your position in the market Attracted by the relationship with the Managing Broker Agent Attractors
1313 V. Doing the Math who is on the bus? Who do I need to attract ? Who do I need to replace ?
1414 Top Producer 15%Set the bar, culture and prestige, high maintenance Core Brokers55%Profit, synergy, supportive, low maintenance New Licensees10%Future, commitment to train, develop and hold accountable Retiring/Slowing10%Culture, support, mentors, legacy of office Sales Prevention10%Oops wrong career! move out quickly w Doing the Math who is on the bus?
% of the active agent population will retire or leave the business annually through normal attrition – because life happens Looking ahead, who will I need to replace? Top Producers Replace 20% (normal turnover) Core Brokers Replace 20% (normal turnover) New Licensees Replace 50% (50% up and 50% out) Retiring or Slowing Replace 50% (fall out at higher rate, or home office) Sales Prevention Agents Replace 100% (Most Managers miss this step) w Doing the Math who is on the bus?
1616 Groups of two or three at your tables Follow the worksheet for office represented on the worksheet How many recruits did you need? What percentage of the office needed to be replaced? Smallest offices may have either the lowest percentage or the highest w Doing the Math who is on the bus? Doing the Math who is on the bus?
1818 Top Producer 15% 7.5 Agents replace 20% = 1.5 Core Brokers55% 28 Agents replace 20% = 3 (5.5 less 2.5 moving up from new) New Licensees10% 5 Agents replace 50% = 2.5 Retiring/Slowing10% 5 Agents replace 50% = 2.5 Sales Prevention10% 5 Agents replace 100% =5 Replaced 30% of population (15 Agents) w Whos on the Bus? Whos on the Bus? Typical 50 Agent Office
1919 I matured my New Agent population I hired 1.25 Agents per month to stay even I needed to hire at least 4.5 experienced with the two I matured to stay even I needed a total of 15 Agents hired to stay even, 5 of whom need to be experienced Is it realistic that all 15 hires could be experienced agents year after year? At a minimum 10 new licensee hires, 5 experienced agent hires Most Brokerages would fall under this 70/30 Rule w Summary of Recruiting Needs Summary of Recruiting Needs
2020 New Licensee Who takes care of me and how do I get trained? Perceive competitor to have superior training Perceive competitor to have superior support (Manager) and or facility/staff Experienced Licensee I could never work there Perceive competitor as stronger brand Perceive competitor has higher level of support, staff and facility Develop stronger professional relationship with competitors Managing Broker over time Attracted by competitors office culture and Agents Lose respect for or leave Managing Broker for cause (#1 reason) Policy & Procedure can attract or repel (choices) more freedom at the competitor more freedom at the competitor We limit their personal marketing Easier to work as a team at the competitor w Why we lose a Prospective Agent cont…
2121 Experienced Licensee I could never work there Must develop strong professional relationship with the Office Managing Broker Regular personal contact using a select list or database (beyond mail or ) Regular Agent Contact by phone, at Industry events or training opportunities (you actually attend) Tools; Phone,CMS, Custom Xpress, local board or association, MLS, training, Broker Opens etc…. Tools; Phone, CMS, Custom Xpress, local board or association, MLS, training, Broker Opens etc…. Two agent or vendor lunches per week Must be attracted by your office culture and Agents Must see support for and professionalism of Agents Should be referred by your Agents, who understand, accept and support your vision of the office Must perceive your Brokerage as the stronger brand Share Windermere story with prospect one on one, when asked (must attract first) Vision lunch or conversation before presenting tools Must perceive your Brokerage has a high or higher level of support, facility, staff Have your Agents share or personally show benefits when asked (attract first) Goes back to the idea of having a shared vision Can your Agents talk features to benefits about Windermere? w ATTRACTING EXPERIENCED BROKERS
2222 Experienced ARE YOU … Touring selected Co-op Agent properties on a regular basis Involved in MLS and local Board as Officer Teaching CE courses to industry Seen by other Brokers as a resource as well as a competitor Involved in Community outreach or planning Delegating stuff Agent endorsement letters / calls Betty in our office cant say enough good ……. Third Party Introduction Introduction from your existing Agents, when co-op agent visits them in the office Transaction exit forms (must have UAS with agents to work) Your Agents rate prospects they have a transaction with Personal notes Everybody loves them Bottom right hand drawer Thank you for the referral (good or bad) Be notorious and obvious with your praise Reward the referral not the quality of the lead
2323 Agents must perceive your Brokerage to have superior / great support (Manager) Agents must perceive your Brokerage to have superior /great training Agents must perceive your Brokerage to have superior / great facility / staff Work on these items with fresh eyes May need Manager/ Owner peer group w New Licensee Who takes care of me and how do I get trained?
24 New Licensees Are you … Mailing to eligible list Mailing to pass list Career Days Pre-License Broker Nights Using Online Education Windermere URL (WORC) License Preparation Class New Licensee Presentation Prospect Tracking System Established Training / Accountability
25 Windermere Accountability Program Randy Stephens – Windermere Services Building synergy and productivity in your office
26 Roundtable Facilitator Spokesman (3-5 best ideas) Your best recruiting idea What are you doing to recruit agents What are you currently doing to train agents How have you changed the culture of your company over the last year Do you focus on new or experienced agent recruiting and why How has your facility or staff needed to change to go to the next level
27 Agent or Manager Interview
2828 Write down the questions you intend to ask Otherwise you'll forget Clear the meeting space Except for those items you need for the interview, show you've prepared Show that you respect the situation and the interviewee. You do not want the prospect to see confidential information that may be in your office Your staff should greet the prospect by name Introducing themselves prior to meeting you for the interview Plan the environment - privacy, no interruptions, make sure the interviewee is taken care of while they wait Put the prospect at ease Greet them in the lobby or reception area and spend several minutes getting to know them, It's stressful for them, so don't make it any worse After breaking the ice invite them to join you in the space prepared for the interview Manager Interview 101
29 Arrange seating in an informal relaxed way Don't interview In your personal office or sit behind a desk directly facing the interviewee Sit around a coffee or meeting room table Begin by explaining clearly and concisely the general details of your company and the role they are applying for Ask open-ended questions remember to start with w, w, w, w, w (what where, when, why and how) Follow their answer with circular conversation to probe deeper (see next page) High pressure causes people to clam up and rarely exposes hidden issues - calm, relaxed, gentle, clever questions are far more revealing
3030 Ask 25% FORD questions Ask F.O.R.D. questions and LISTEN for change (pain and pleasure) Sales background or training Past Success and challenges in work - life Personal vision for real estate work -life Follow with 50% Circular Conversation W, w, w, w, (or what, where, when, why, and how) 1.Open ended question (or what, where, when, why, and how) 2.Shut up !!! 3.Repeat and affirm 4.Open ended question (repeat as often as necessary) Show 25% Company/ Office Vision Staff Support Facilities and Equipment Windermere / Office Training (feature to Benefit) Windermere Technology Provide take away of features and benefits Decide25% Are they willing to be held accountable Their needs and can we provide it Do I want this character in my Office Follow-up (see handout) w
3131 ASK - FOLLOW - SHOW - DECIDE Sample Questions for Agent Interviews Remember to use open ended questions w, w, w, w, w, What do you know about our company? What do you know about our company? What draws you to selling real estate as a career? What draws you to selling real estate as a career? What are your strengths? What are your strengths? How do you keep track of what you need to accomplish daily? How do you keep track of what you need to accomplish daily? How do you picture a successful real estate career How do you picture a successful real estate career What goals are you working on outside of work? What goals are you working on outside of work? Experienced agents; What do you like best about your current company? What do you like best about your current company? How would you change your current office for the better? How would you change your current office for the better? What will your production look like this year and where do you see it going in the future? What will your production look like this year and where do you see it going in the future? How have you built your business in the past? How have you built your business in the past? How do you perceive our culture at Windermere differing from the culture at your present company? How do you perceive our culture at Windermere differing from the culture at your present company? How would an agent in your office describe you and your business? How would an agent in your office describe you and your business?
32 Sample Questions for Manager / Staff Candidate Remember to use open ended questions w, w, w, w, w, what, where, when, why and how Follow with circular conversation What do you know about our company? What do you know about our company? What was your biggest challenge when you were selling Real Estate? How did you overcome that? What was your biggest challenge when you were selling Real Estate? How did you overcome that? What attracted you to the management ranks? What attracted you to the management ranks? How would you measure success when interviewing an agent for our company? How would you measure success when interviewing an agent for our company? How do you grow/develop talent in a company such as ours? How do you grow/develop talent in a company such as ours? How do you keep track of what you need to do daily? How do you keep track of what you need to do daily? What would your ideal boss or least ideal look like? What would your ideal boss or least ideal look like? What would the culture of this office look like 5 years from now if you were the leader? What would the culture of this office look like 5 years from now if you were the leader? What role would our staff play in helping you lead this office/company? What role would our staff play in helping you lead this office/company? Explain your approach to maintaining high standards or improving poor performance for our agents. Explain your approach to maintaining high standards or improving poor performance for our agents. When do you feel you need to release an agent? When do you feel you need to release an agent?
3333 Principal Broker Interview Can I expect you will train me to develop a presentation if you dont have one of your own ? Ask – Follow – Show (25%) - Decide w
3434 Managing Broker Interview Features to Benefits w PPT or Paper but never online
3535 w Managing Broker Interview 101 Windermere Tools 70% of prospects will be visual learners
3636 Managing Broker Interview % of prospects will be visual learners
37 Vital Few 20% of the people control 80% of the wealth 80% of the people control 20% of the wealth
38 Vital few 20% of the effort produces 80% of the results Trivial many 80% of our efforts gets 20% of results Trivial mandatory Stuff /delegate
3939 Vital Few Daily – Vital Few Arrive at the office at a set time each day – discipline creates freedom Arrive at the office at a set time each day – discipline creates freedom minutes of follow-up FORD calls with active prospects 3x per week (m/w/friday) Send 2-5 notes – thank-you, congratulations, thinking of you (bottom right hand drawer, stamped) Schedule daily sessions this week for paperwork cleanup, do not review paperwork outside schedule, delegate ASAP Weekly – Vital Few 1 hour weekly planning meeting (on paper) with yourself. Begin with your Vision in mind minute weekly Staff meeting Monday early in the day (review your coming week, sales meeting etc) F.O.R.D. Two Accountability Sessions (not coaching) with newer Agents for this week Two 15 minute Experienced Agent Check-ins for this week. Track history on paper/spreadsheet F.O.R.D. Time to exercise or be alone for an hour each day ( not between 10am and 3pm) Schedule 2 lunches or coffee this week with someone in the industry, but outside your office F.O.R.D. Schedule 1 lunch or coffee this week with two someone's in your office (beware of one on one) F.O.R.D.
Monthly – Vital Few Speak at Career Day or Teach Class for Prospective new licensees (organized by your staff) Have the staff plan safe social activities with the branch 4x per year (non-competitive) Sales Meetings Assign Staff member responsibility for coordinating sales meeting, guests etc. (by the previous Friday) Assign Staff to begin the meeting with office business and announcements Always start on time, always end on time Set date for Office / Company Vision or state of the office discussion once per quarter (replaces sales meeting) Attend Property Tour while selectively recruiting
4141 Establish the Vision for your office Office model What is it, and where is the payoff Lead people (agents and staff), Manage work Be bold and have fun Share with your prospects early and often for UAS Share with your Agents early and often for UAS Share with your Staff early and often for UAS Establish Recruiting Needs for the coming year Who is on the bus? 70 / 30 Rule of Recruiting How many hires do you need this year? What is the mix of New and Experienced needed bold, Have fun, Be bold, Have fun, Share it with your Agents early and often for UAS Share it with your Staff early and often for UAS Make Agents and Staff part of the solution (dont manage lead) Establish Presentations for New and Experienced Licensees Develop presentation and materials for New LicenseeWho takes care of me and how do I get trained? Establish culture, competence, communication to attract Experienced Agents I could work there Hire in the process not after Spend more time in front of agents, less behind your desk Summary
4242 Principal Broker Interview Ask Follow Show Decide FORD questions Circular Communication VisualsCommit Managing Broker - A day in the life Develop your daily, weekly, monthly and sales meeting vital few Discipline creates freedom, freedom alone creates chaos Grow your Windermere Office / Company Hire in the process, not after - asking for commitment while showing value w Summary cont ……