Watch this real estate manager training to learn how to grow your organization and increase production even when business is slow.
In this real estate manager training, we are going to tackle a hot topic right now. How can I increase production when business is slow?
The answer is simple. That doesn’t mean it’s easy.
VIDEO: Real Estate Manager Training to Focus Agents on Lead Generation Activities
Real estate manager training: back to basics
As a leader, there are two things you can do to increase production when business is slow. Only two.
1. Focus agents on buildling their pipelines
2. Recruit more agents
Today, we are going to dive in and talk about recruiting.
Real estate manager training: strength in numbers
There was at least a 25% drop in the number of homes sold in the U.S. last year. I know many of our clients actually increased their production over the past year. I can tell you there is a common theme among most of these clients.
Our clients who grew last year, despite the average 25% drop nationwide, ended the year with more personnel than they started with. If you grew your team last year and added your team throughout the year, you recruited to insulate your business.
If you look at your sales production from the last year and you had 8 agents, and you closed, let’s say, 60 million in sales volume, think about this. Let’s say you had 16 agents instead … then you would have closed 120 million.
A 25% drop in the market doesn’t affect you. You’ve insulated yourself and your team by doubling your production. That’s what growth does.
That is why this real estate manager training topic is so important.
Recruiting: when you’re too big to fail
Real estate manager training: be a better (and nicer) leader
It is better for everyone on your team, including the other agents, for you to continuously recruit.
There is less pressure on any one agent. You don’t have to be a jerk of a leader. You don’t start squeezing your agents so tight that they slip through the cracks. Stop getting annoyed about agents that aren’t doing their job. Less frustration, stress, and anger will be a part of your day-to-day life. Your retention will be better, too!
Plain and simple: companies that are growing have a better culture
Growth proves to people that your real estate organization is desirable.
If you aren’t growing, you’re dying. That stasis you are trying to hold onto will actually start to die. You must grow. It’s not fun to grow. It sucks. I get it. Recruiting sucks. There are very few people who have recruited more agents than I have over the course of my career.
Recruiting is very humbling.
Regardless of what happens in this market going forward, or whether your market heats up, if you focus on growth, you will insulate yourself from any possible market-related downturn in business.
Realize that your highest and best use is to build a deeper bench.
Real estate manager training: handling the growth objection
I’ve heard this one a lot. “Well, I really only want to grow my team by one or two more agents.”
It doesn’t work that way, guys.
There is a very low success rate in real estate. So, if you want one or two more agents, then you need to recruit four or five. That’s the deal. 33% of agents quit within their first year. And, 87% don’t make it five years.
When you join a real estate team, you drastically increase your rate of success. You go from a 10% success rate to a 30% success rate. Joining a team is super valuable.
Real estate manager training: when an agent isn’t cutting it
It’s a guessing game. You win some, you lose more. When it comes to recruiting, you’ll make bad hires. If you have all of your systems in place, a great on-boarding and training program, and an agent still won’t do the work, there is nothing you can do.
You’ll need to let people go. That’s part of the game.
But, it hurts less when you have the insulation provided by constantly recruiting. You may need to send three of your recent hires packing, but good thing you recruited five because the other two are doing great!
Remember: if they aren’t leaving you, you aren’t hiring enough. You are anti-growth. This is a really bad place to be in business.
Real estate manager training: from scarcity to abundance
When agents are griping about not getting enough business, time to break out the dashboard. Look at the Matching Standard. How many leads are they getting from the team? How many are they generating on their own?
Are they doing their activities? Refocus that scarcity-based thinking into abundance-based thinking.
When they gripe, refocus them. Don’t get mad. Don’t get angry.
Bring the dashboard into the conversation. Which activities can they do more often, in order to get better results?
Don’t play the blame game
Don’t look at your agent’s level of business during a slow market and blame your agents. That is bad leadership.
Instead, turn to what is actionable. Do what you are supposed to do as their leader, and lead them.
FREE DOWNLOAD: Inventory Pipeline System
This excel spreadsheet will come to your inbox for subscribers. This inventory pipeline will help you (and your agents) track listing inventory, buyer inventory, and pending inventory. This is one of our favorite systems that will help you, through this real estate manager training, provide the value of a good leader to your team.
Want to learn more?
- Read The High-Performing Real Estate Team. You can buy Brian Icenhower’s best-selling book on Amazon.
- Subscribe to The Real Estate Trainer Podcast. You can find it on Apple Podcasts, Google Podcasts, Spotify, Podbean, and anywhere you listen to your favorite podcasts.
- Join the Real Estate Agent Round Table. We are always posting fresh content — everything from market updates to free templates — and host dynamic discussions with the industry’s top producers.
- Subscribe to our newsletter. In the sidebar of this blog, you’ll see a subscription sign-up form. You’ll be the first to find out about our new resources, free downloads, premium online courses, and the latest promotions.
- Reach out and talk to an ICC coach. Not sure which of our coaching programs is right for you? Let us help you.
Stay up to date on what's happening in our industry and join our Facebook group, the Real Estate Agent Round Table for free, relevant content daily, including breaking news on the real estate market.
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