May we all agree the most effective and efficient recruiting a Broker can do is to retain the agents they have?\u00a0 We know this, yet why is our churn rate often high?\u00a0 Well, honestly, sometimes we simply attract and hire the wrong talent for our organization. Yet the most common challenge is that agents (like your market) are constantly moving\u2026leadership delays the process!<\/p>\n
Best practices for Agent Retention:<\/strong><\/p>\n Recruiting is how well you\u00a0tell<\/strong>\u00a0your story\u2026retention is how well you live and deliver\u00a0<\/strong>the story you\u00a0tell.<\/strong><\/p>\n The Key thoughts to empower you to provide what you\u2019ve promised:<\/strong><\/p>\n *While, much of this may or may not be included in the Company\/Brand Independent Contractor Agreement (ICA) however it is important to remember that what is provided by your Brand is a boiler plate and may not be customized to you market and your specific office practices.\u00a0 Make sure you take time to customize to protect all parties involved.<\/p><\/li>\n Simple is not always easy.\u00a0 This is a great example of that principle.\u00a0 Once you involve the dynamics of personalities, emotions and friendship things have potential to become complicated.\u00a0 That\u2019s why our advice (for the third time in this blog) is to have all things in writing.\u00a0 It\u2019s much easier to make the call when all parties have agreed and signed off!<\/p>\n<\/body>","protected":false},"excerpt":{"rendered":" May we all agree the most effective and efficient recruiting a Broker can do is to retain the agents they have?\u00a0 We know this, yet why is our churn rate often high?\u00a0 Well, honestly, sometimes we simply attract and hire the wrong talent for our organization. Yet the most common challenge is that agents (like<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_hide_featured_image":false,"_jetpack_featured_image_duplicate_dismissed":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-150","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/kbconsultingsolutions.net\/index.php?rest_route=\/wp\/v2\/posts\/150","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kbconsultingsolutions.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kbconsultingsolutions.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kbconsultingsolutions.net\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/kbconsultingsolutions.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=150"}],"version-history":[{"count":1,"href":"https:\/\/kbconsultingsolutions.net\/index.php?rest_route=\/wp\/v2\/posts\/150\/revisions"}],"predecessor-version":[{"id":151,"href":"https:\/\/kbconsultingsolutions.net\/index.php?rest_route=\/wp\/v2\/posts\/150\/revisions\/151"}],"wp:attachment":[{"href":"https:\/\/kbconsultingsolutions.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=150"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kbconsultingsolutions.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=150"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kbconsultingsolutions.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=150"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
\nHere is the dialog I used when adding agents to the office:
\n\u201cSelling real estate is a process\u2026not an event \u2026so is office leadership.
\nIn the sales process, you can experience ease and elegance or blood and guts. The same is true for Brokerage Operations.\u00a0 I choose ease and elegance; therefore, you will find a copy of our Office Policy and Procedures Manual in your On-Boarding Kit\u2026 and it is to be discussed and signed by all parties once you officially join!\u201d<\/li>\n
\nIncluded in your Office Policy and Procedures Manual should be written guidelines for all office practices, protocol and procedures.\u00a0 Some examples may include:
\na. \u00a0How we handle all money issues:
\ni. Delinquency; monthly investment
\nii. Commissions paid;
\niii. Commission disputes,
\niv. E&O Claims
\nb. \u00a0What marketing practices are acceptable.
\ni. How, when, what, why
\nii. Brand (if applicable) compliance standards
\nc. \u00a0Pre Nup
\ni. In the event things don\u2019t work out how do we handle
\n1. \u00a0Inventory
\n2. \u00a0Pending Sales
\n3. \u00a0Unpaid expenses owed to the Brokerage
\nii. This is the birth of respect and integrity.\u00a0 How you end the relationship is being viewed by the entire real estate community.\u00a0 Lead with strength not by fear.\n
\na. \u00a0Set expectations for all essential brokerage necessities:
\ni. Production
\nii. Participation
\niii. Attitude
\nb. \u00a0Set consequences for what happens when things go up-side down.<\/li>\n
\na. \u00a0Praise publically! It is important to pat both your agents and staff on the back for a job well done.\u00a0 Make sure your appreciation is shown frequently, consistently, justly, fairly and most importantly\u2026sincerely.
\nb. \u00a0When performance does not meet, or exceed expectations, coach privately.\u00a0\u00a0 Behind closed doors, fulfill the role of the Leader and lead. Have the tough conversation.\u00a0 Reluctance to address the problem never makes the problem go away or better. Often it has the opposite impact.\u00a0 Hit the challenge square in the eye; honestly, directly yet with care and compassion!<\/li>\n
\na. \u00a0Often with sales professionals, patterns and behaviors impact production. As the Leader document the pattern so that you can discuss it at the appropriate time wisely and logically.
\nb. \u00a0Once the established pattern has been discovered and explored, have the conversation.\u00a0 With care and candor discuss how the pattern might be impacting production and relationships.
\nc. \u00a0The good, the bad and the ugly.\u00a0 When discussing production and behavior patterns, again praise publically and coach privately.\u00a0 This conversation must be free of all emotion yet hosts the potential to build a bond that cannot be shaken.<\/li>\n
\na. \u00a0As a Leader, you have most likely tapped into two amazing gifts.\u00a0 The gift of anticipation and the gift of discretion. Practice and honor both.\u00a0 Work ahead of all opportunities before they become challenges.\u00a0 Buffer and avoid as much drama as possible.\u00a0 This is a huge assignment yet a significant practice.
\nb. \u00a0Train your tribe!
\ni. Encourage best practices for all real estate activities
\nii. Provide resources for the best systems, processes and procedures
\niii. Be a resource, not a sales pitch.\u00a0 Provide what is needed to take each member to their desired level of production.
\nc. \u00a0Educate your tribe!
\ni. Provide relevant, state of the art, industry specific tools, resources and benefits to ensure your agents grow their business.
\nii. Keep the vision and goals HUGE. Challenge each with industry specific opportunities to grow their business under your leadership
\nd. \u00a0Celebrate
\ni. Frequently and publically!
\nii. Consistently find way so recognize and celebrate as many members as often as possible.\u00a0 This action much be all inclusive and not limited to a select of Top Producers.
\ne. \u00a0Coach and consult.
\ni. Constantly work to build respect and trust with your tribe!
\nii. Communication must be authentic and frequent
\niii. Empower each member to create a 1-3 and 5-year vision, and discern what action steps must be taken today to fulfill each year\u2019s.<\/li>\n<\/ol>\n