All brokers know that bringing talented and energetic real estate associates into your team is the key to long term success. But for many, sustaining and increasing headcount growth is both a quantity and a quality issue. It turns out that not every sales associate may be a good fit for the culture and the kind of team you are trying to build and with limited space and energy to give to your staff, choosing carefully is well advised.
Here are some thoughts from the experts at Weichert on what to ask and what to look for to see if the fit is truly right. Personal Connection Building a cohesive brand and company culture is dependent upon your ability to hand select new members that will be able to form a strong personal connection to you, the rest of the team, and the type of clientele that you are targeting. Even if an agent is talented, you should not invite them to join your team if they will become a disruption or point of conflict because of their personality. In addition to their professional appearance on paper, it is wise to take your time measuring your connection with each prospective agent. You should do this each time you meet and introduce them to other members of the team to see if they jive with your company culture. Trust your instincts. Level of Experience Depending on what type of brokerage you strive to run, you may want agents with different levels of experience. For example, if you thrive as a real estate mentor and want to be very involved in training, you may be better suited for recruiting new agents. However, if you are targeting sophisticated luxury clients, you need to recruit agents that have the maturity to cater to those demands and needs. You also want to take into consideration, their level of experience in business at all. For example, a former teacher versus a former mortgage lender will have very different preexisting knowledge about running a real estate business. . Keep in mind, too, the cost to your brokerage for experienced vs. new agents. It is often good to have a mix of both to optimize brokerage profitability. Level of Commitment As you already know, recruiting and agent turnover are one of the highest operating costs for any real estate brokerage. Therefore, it is imperative that you stay focused on quality agents that will be motivated to stay with you after they benefit from your training. When trying to understand what the commitment level of a new hire might be, asking about the future is always a good idea. Don’t hesitate to ask agents about their five or ten year plans. Folks with a serious commitment to being a professional agent will have thought about how they want their career to evolve, and may even have set revenue goals. This is a sure sign that you are dealing with a more committed agent with long term potential. Spend Your Time on Recruiting – It’s Worth it There is no question that recruiting, training, and molding a real estate team is much easier said than done. The amount of time needed to generate recruiting and training materials, host events, and provide support can be significant. A partner like Weichert provides real proven processes that also offer the busy broker relief. Relief in the knowledge that an experienced partner with real support, proven processes and tools is there for them and their agents 24/7. For more information about how a partnership with Weichert can help you grow your brokerage go to www.weichertfranchise.com. Original content posted on https://www.weichertfranchise.com/blog/recruiting-your-team-finding-the-right-fit/
0 Comments
2020 is finally upon us and just like most successful real estate brokers, you are probably bursting with motivation to make this year your best yet. It probably also means that your mind is constantly filled with thoughts about recruiting and how you can accomplish significant goals for expansion over the next 12 months. You may even be feeling slightly discouraged if you came up short on your recruitment goals for this year. Don’t worry because the team at Weichert has the know-how to help you recruit the agents you need to support your business this coming year and rise to a new level of real estate stardom in your market.
Immerse Yourself In The Community You can’t expect to attract many new agents without your brokerage being a prolific member of the community. The more opportunities that you seize to host events, get involved in charitable works, partner with other businesses, and network with like-minded people, the more brand awareness you will achieve. Your goal here is to make your brokerage synonymous with the area you serve, so that when agents think of your market, they automatically think of you as the most active brokerage in the area, and thus the one most likely to facilitate their success. Become The Go-To Educational Resource Agents crave education and support from their broker, so by regularly hosting classes, webinars, and publishing content that will help them grow, you can improve your current team’s production and create buzz on the streets that will attract motivated agents. When it comes to hosting educational or recruiting events, think practically. Rather than hosting your events during the day when most people are otherwise busy, hold them in the evenings to increase attendance. You should also invest in proactively marketing these events on websites like Eventbrite, in your social media and in your conversations with agents. While in many ways agents act like standalone businesses, the more you demonstrate your leadership, expertise, and willingness to give back through education, the more agents will be eager to park their desk inside your brokerage. Have Materials That Keep You Top of Mind Agents that are considering you brokerage are eager to understand what makes you different and how your model can benefit them. Face to face meetings are always best, but make sure you are armed with takeaway materials for those you come in contact with that they can digest later and also serve a reminder of your meeting. Whether its flyers, simple brochure or a recruiting card distributed at a career fair or a more detailed piece for a targeted recruit. Help them remember you when they leave the meeting. Gather testimonials from your existing agents to promote on social media. Promote activities that your agents participate in as a team, such as charitable drives and social events to show off your awesome culture. Create video testimonials of your current agents discussing the benefits of joining your brokerage and share them on your website, YouTube, and social media accounts for prospects to see. Implement Proven Systems & Processes To Meet Your Recruiting Goals So whether you’re targeting 5, 10 or 25 agents, you can hit your number with the right infrastructure in place. Just ask our Weichert brokers! The challenge is to create the recruiting systems, activities and tools needed to meet your business goals. It can also be daunting when you don’t have the tools and technology behind you to offer agents a reason to join your brokerage. Affiliating with a brand like Weichert can provide you with support in both areas. With our proven recruiting system, coupled with a full suite of recruiting materials and our package of marketing tools, training, technology support and lead sources, you’ll have everything you need to grow your agent base and your overall business. Learn more about how the Weichert system can set you on your way to recruiting for the next level of success. Original content posted on https://www.weichertfranchise.com/blog/hit-your-agent-recruiting-goal-next-year-with-these-3-tips/ For many people, the end of the year is all about the holiday season, but as a real estate broker, it is all about recruiting season. This is the time of year when many agents might be thinking about a move or when people start thinking about a career change for the coming year. Do you have a plan to capitalize on that? Since there is often steep competition to find the best agents in your local market, you will need to have a clear and consistent strategy in place. Here are a few tips on how to set yourself up for success:
Did You Set Clear Recruitment Goals for the Year? At Weichert, one of our broker mantra’s is to “know your numbers.” One of those important numbers is your recruitment headcount goal for the year. Your choice of a goal here should be realistic yet push the limit of what you think you may be capable of. Some brokers make these goals even more specific, specifying how many new agents they will recruit as well as how many experienced agents they will target. Once you set these goals for yourself, keep them visible and track your progress against them. You should also define smaller goals that support this objective like how many recruiting events will you run each month? How many calls, emails or direct outreaches will you conduct? How much of your online content will be dedicated to recruiting each month? Setting and achieving these smaller goals will not only make you feel good, but if defined right, they should lead to the headcount growth you are looking for. If you didn’t set a recruiting goal for this year, not to worry! You can still set monthly goals from here on out. It’s also a great time to start determining what your goal needs to be for next year. Decide To Make Recruiting A Priority One of the major hurdles that brokers encounter is allowing their recruiting activities to be derailed by “higher priority” tasks. Fixing this is really a matter of adjusting one’s mindset around recruiting and understanding that there really aren’t many more important tasks for your long-term success than recruiting. It is crucial that you decide what methods you plan to use at the beginning of the recruiting season and stick to them, such as holding regular career events or engaging with your local real estate school. Only by being consistent in your approach will you achieve results. Weichert brokers for example, are coached to execute a simple, but effective, recruiting plan on a weekly basis. Initially it may seem like a large time commitment, but the effectiveness of regular focus on recruiting soon makes new affiliates into converts and produces the brokerage growth that may have been missing. Leverage The Power Of Your Brand When it comes to recruiting, one of the best tools any broker has in their arsenal is their brokerage’s brand. For agents, a recognized, an established brand can mean more leads, training opportunities, mentoring opportunities and better tools to market with. Weichert brokers, for instance, often tell us that many of their recruiting and retention headaches were solved the day they hung the Weichert sign on the door. As an independent broker, your ability to create that buzz around your brand, is key to your success recruiting. That buzz comes from a combination of many things including your visibility in your market, the satisfaction of the agents already there, and your ability to help deliver leads, training and support to your team. Make Sure You Have the “Stuff” Training. Sales Materials. Marketing Templates. Listing Presentation. CRM. In order to attract agents, you need to have the tools and resources available to help them succeed and keep them. Agents want to sell and they want to be efficient in their follow up. They don’t want to have to spend time creating brochures and postcards or manually tracking leads. Weichert offers everything from new agent and existing agent training, to a powerful Listing Presentation, customizable marketing templates and personal branding support. In addition, agents are provided CRM technology to help them be as efficient as possible with their follow up. Recruiting Tools You Don’t Have to Grow Yourself If you’ve ever considered affiliating with a national brand, you’d expect that they would provide you with the support you need for recruiting and retention. The reality is many well-known real estate brands offer you little more than their logo to recruit. In addition to a well-recognized and well-respected national brand, Weichert offers a full suite of recruiting tools to attract and sell your value story, such as presentations, videos, brochures and flyers. In addition, you can work with your business consultant to help you map out your recruiting goals and strategy. You don’t have to go it alone. Like everything Weichert, it starts with “We”. For more information about how the power of WE can help you with your recruiting strategy to attract agents to your real estate team, go to www.weichertfranchise.com. Original content posted on https://www.weichertfranchise.com/blog/tis-the-season-for-agent-recruiting/ Like most real estate brokers, you know how important, yet challenging it can be for real estate agents to reach their full potential. Sometimes even experienced agents get in a rut. Yet everyone knows that the more successful agents are, the happier they’ll be. When agents feel stalled, or unable to reach their earnings goals at one brokerage, you can bet they will eventually seek out a new one. The more you can play a part in getting your good agents to be great, the more loyal they will be to you. The most dangerous thing you can do is nothing. Here are a few practical ways of motivating your good agents to reach greater heights.
Break Bad Habits and Foster Good Ones Unlike a brand new real estate agent that is still trying to get their feet wet and learn the lay of the land, an experienced and already producing real estate agent is likely to have developed a bad habit or two. Before you can get to work in helping to break these bad habits, you and your agents need to first identify what they are. One easy way to tackle this obstacle is to invite all of your agents to one-on-one meetings or coaching sessions where you can identify areas for improvement and help coach them toward more productive activities. Create contests within your brokerage the encourage the activities you want them to do, such as holding open houses or using the company listing presentation. Provide them with a cheat sheet or calendar of activities, which if followed, has shown to produce clients and listings. However, you do it, keep this coaching a positive experience, by avoiding direct criticism and giving positive feedback on the things they are doing well. Set Appropriate Goals One of the most common causes of agents not reaching their full potential is not having set goals. Some agents don’t set goals at all, some set the bar too low, and others set it far too high. Unfortunately, many people simply never learned how to set goals for themselves in a way that will drive them forward. Asking your agents to complete a yearly business plan is a first step. Review each of your agents’ business plans with them to make sure they are challenging, yet attainable. It will also help ensure they are aligned with your own goals for growth. An annual team-wide workshop or webinar is a time-efficient way of educating your agents on how to set appropriate goals. Then follow up with one-on-one meetings with genuine offers to help any way you can. Establish Accountability Setting appropriate goals to strive for is one thing, but taking the steps to achieve them is the real challenge. A proven way of increasing an agent’s goal success rate is an accountability partner. An accountability partner is someone that your agent will trust, share their goals with, and look to for steady motivation to meet the goals that they have set for themselves. These relationships work best when both partners lean on one another for such support and feel a sense of responsibility to one another, more than just themselves. Research shows that the fear of letting someone else down for failing to complete a task or goal can be one of the most powerful motivators of all. Encourage your agents to find an accountability partner within the team or a mentor that they are comfortable with and trust. Then do everything you can to make sure they are successful in reaching their goals. Your Role As Broker & Coach Ultimately, your role as a broker is to be your agents’ biggest cheerleader. Don’t underestimate the value of encouraging them, empowering them with the resources they need to reach their goals and rewarding them for their achievements both big and small. Remember, the more junior members of your team are looking to your veteran agents as role models and your efforts to motivate the vets will have a trickle-down effect on them. At Weichert, we believe strongly in hands-on coaching and support with affiliated broker to help lead them to business growth. We also provide the recipe and the tools to succeed. The Weichert Franchising team has spent years building a comprehensive system of training for brokers and agents of all levels in the industry. Many Brokers who join us tell us how powerful it is to be able to “plug-in” to a well-established system that supports both them and their agents. Growing on your own can be hard. If you’re looking for a partner to help you with some of the heavy lifting on your way to the next level of success, consider a conversation with the Weichert Franchising team today or visit https://weichertfranchise.com Original content posted on https://www.weichertfranchise.com/blog/to-get-agents-from-good-to-great/ What To Look For if You are Considering AffiliationOnce you’ve made the decision in your mind that you are ready to move from being an independent brokerage to a member of a franchise, the next question is: “Which one?” With dozens of national real estate franchises to choose from, you need to look closely at which is the best fit for you and your agents and which will bring you the best processes and systems for growth.
In other words, in looking at each franchise you’ll need to ask, “What’s in it for me?” How Does the Franchise Support Its Franchisees? Some real estate franchises offer little more than their brand name and access to marketing materials, and you are left to do everything else on your own. When you consider an affiliation, you should make sure that your franchisor is not only offering a recognized brand name to leverage, but is providing an active and comprehensive plan for your business growth that has proven to be effective. Will you be treated as a valued member of their franchise family? Will your new franchisor be there when you need assistance? Do they offer a proven methodology for recruiting and selling? Will joining give you a support network to alleviate that feeling of being all alone and give you a place to turn to for advice and guidance when you need it? Will your growth now be an ongoing collaborative effort between you and your franchisor that empowers you to make positive, productive decisions for your business? When evaluating real estate franchise systems, ongoing training and support has to be a key component of a solid franchise business proposition. The industry doesn’t stand still, so neither can you or your agents. It is important to keep skills sharp to continue to compete. For instance, at Weichert, affiliates are taught a system for success. The tenants of this system are reinforced in the training and tools we provide brokers and their agents through multiple channels that are active and always a step ahead. It includes personal, expert consultation from our service team when you need it, online training for both brokers and agents, leadership seminars, regional trainings, webinars, Weichert University our 24/7 online training portal, and expert coaching for every aspect of your business. This practical, comprehensive and “hands-on” partnership brings continual insight and support to brokers and their agents, especially in the toughest times. Technology and Tools Will the franchises you are considering provide you the right technology and tools to help support your business and help your agents be productive? Technology is changing so fast that it can be difficult for an independent broker or their agents to keep up. You should be able to look to your affiliate to furnish the latest, intuitive technology and tools and to provide a constant source of training and coaching around their use. For example, just a few of the tools Weichert provides its affiliates include a CRM (Client Relationship Management system), paperless transaction management system, web-stores with customized marketing templates and a digital tool to help create a killer listing presentation. Our “Doors” listing presentation is unique in the industry and is constantly cited by our affiliates as key to their stellar close rates. Tools and training should be available to you and your entire team in a way that completely supports your growth objectives and go-to market strategy. Weichert also invests in lead generation. It drives traffic to its national website which generates leads that are screened and passed to a live agent within minutes. It’s a great supplement to an agent’s day-to-day sales activities. At the end of the day, the more you can provide your agents, the more valued your brokerage will be in their eyes. Recruiting Support Recruiting agents may be the single most important part of getting to the next level of success with your brokerage. Too many brokers reach a plateau with their agent count and can’t seem to move past it. Real Estate Franchises like Weichert not only provide you the advantage of a recognized brand name, but they provide you with a system of best practices and support tools to help you get and keep the people you need to be successful. Once you get your recruits, Weichert also offers its Fast Track training to help you get them up and running fast. Talk to Other Franchisees When evaluating Franchise opportunities, by all means call other affiliated brokers in your area or even across the nation to discuss their experience with the company. Any Franchisor worth their salt will be more than happy to supply you with names and phone numbers of other owners to call. Get them to speak candidly about their experience both good and bad. Your goal is not to find the perfect franchise, but to find one that is perfect for you. Carefully consider the culture of the franchises you are considering. A good fit shouldn’t require you to change everything you do and how you do it. After all you’ve already built a successful business. Instead a good franchisor should roll up their sleeves and get in the trench with you. They can show you better ways to do things and better tools to use, but you will bring a lifetime of knowledge about your market and your people. The best model for franchising is active collaboration. Start your Conversations with Weichert.Deciding to affiliate is a big deal, we get it. But if you do it right with a company like Weichert, your only regret should be that you didn’t make the move sooner. Call us today at 877-567-3350 or visit http://www.weichertfranchise.com Original content posted on https://www.weichertfranchise.com/blog/not-all-real-estate-franchise-systems-are-built-the-same/ Brand is a powerful thing. Yet, many real estate brokerages underestimate its power in attracting consumers. A successful brand can be leveraged to establish trust, credibility, and ultimately, success. Many successful owners have worked hard to build a name for their company, which has helped lead them to where they are today. However, for many brokers, building a brand that people instantly trust and want to engage with, can be challenging. Where do you start? How do you compete? How do you make yourself memorable?
Customer Service: What Does It Really Mean? It is not news to anyone that customer service is a top priority to consumers, but in real estate, it’s all about customer service. So what exactly defines quality customer service for real estate agents and brokers? While many brokers agree on some key elements of this, it’s surprising how many different answers you get. According to NAR, buyers and sellers have named honesty, technology, and regular communication as their top priorities in terms of customer service. No matter how you define it, it’s what the customer values that’s important. Take a look at your company. How would you rate your brokerage and your agents in these areas? If they’ve not been a priority, make them priority in your operations. By focusing on these areas, you’ll be on the path to delivering the best service possible in your market. But consistency is also critical. Good brands deliver consistent experiences. It’s why customers keep going back. Define and post your unique definition of customer service for everyone to see and make sure your entire team trains on it and keeps it top of mind. When everyone defines service in the same way, using the same tools, that’s the beginning of building a real brand experience that means something to people. Effect on Lead Generation It’s a simple fact. The strength of your brand has a direct impact on your ability to generate inbound leads, which can directly affect the success of your company. As a broker, you want to ultimately build a brand that magnetically attracts buyers and sellers which you can hand-off to your agents. That makes you valuable in the eyes of your agents. The struggle for many independent brokers is that they simply can’t invest the kind of money in branding and lead generation that large, national real estate companies do. At Weichert, the lead generation challenge is one of the biggest reasons that independent brokers turn to us for help. The Weichert national lead generation strategy creates a constant stream of quality leads, by leveraging both digital marketing and technology. Not only does Weichert cultivate leads inside your market through our lead network, but it provides lead opportunities from our rental company, relocation company, and referrals from our network of over 500 offices across the country. Brand Touch Points A silent brand is no brand at all. You can’t build a brand that generates leads and recruits new agents without implementing a system of regularly reaching out and touching your community with events, ads, content, volunteering…and yes, even Open Houses. In fact, the more that you get your brand in front of consumers in your service area, the more brand recognition and credibility you will achieve. It is human nature to feel comfortable with things you are exposed to repeatedly, but make sure it looks consistent. These touch points create a connection and understanding with your brand that makes doing business easier down the line. The brokerages that are able to touch their community the most will be the one buyers and sellers think of when it’s time. As a broker your job is to use all your knowledge and skills and all the media and personal channels at your disposal to get your brand out in the world, and keep it there. Independent Broker Independence VS. Big Brand Many independent brokers feel like affiliation means giving up their identity, their independence, and everything they’ve built and learned over time. But what if that wasn’t true? What if you could maintain your independent operating style and culture, while plugging into the benefits of national branding, lead generation, recruiting systems, agent education systems, technology, coaching and more? What if someone could really show you how to do this in a proven way that has taken others like you to the next level of success? If that sounds like the kind of brand you’d like to be part of, give us a call today to find out more: 877-567-3350, or visit us at weichertfranchising.com. Original content posted on https://www.weichertfranchise.com/blog/the-power-of-brand/ As 2018 draws to an end, you and the rest of the real estate broker universe are actively thinking about how to make 2019 your best year yet. A big part of that plan is sure to be how you will attract more sales associates to your brokerage. If you’ve hit a plateau or feel like you need new tactics, it may be time to take a fresh approach to your recruiting strategy in the new year. Here are a few thoughts on recruiting strategies for 2019.
Get Serious About Instagram & Facebook Yes, you have heard for some time that Instagram and Facebook are important platforms for real estate professionals, but are you using them actively for something other than home sales? It turns out that these portals have a role to play in recruiting agents, as well as buyers and sellers, but unless you are consistent about staying active and engaged on each of them, you won’t see results. By having the right connections, and being active on these portals, agents will see your brand as dynamic and active and you will increase the number of touchpoints you have with other professionals. When using these portals for recruiting, here’s a few things to keep in mind.
The key here is to be helpful. Both your content and your comments should give people real and valuable information. What you give freely, you will receive in return tenfold. Get Yourself in Front of the Right People While there is no dispute that technology has earned its place in real estate recruiting, face-to-face connections will never lose their value. The more you can get yourself, your name, and your brand in front of interested recruits, the faster you will grow. One way in which Weichert affiliate brokerages have achieved recruiting success is hosting a weekly career night at their offices. With careful promotion and consistent scheduling, this activity helps each of our brokers shake hands with interested candidates and take that first step to bringing them onboard or into the industry. Get A Buzz Going One thing experienced agents will evaluate is what value your brokerage brings to their business. That can take many forms, one of which is lead gen. At Weichert for instance, we invest in a national lead network from generation to qualification to distribution, which is an extremely powerful recruiting tool. We cultivate leads from Weichert.com with over 3 million visitors a month, which supplements an agents’ own activity. Another is tools and resources. Weichert, for example offers one of the best Listing Presentation tools in the industry. Still another is your company culture. Creating an environment of support and open communication empowers agents to do their best. Agents talk to each other and if they love where they work, they talk about it. That kind of talk can ignite a fire of interest around your brokerage that will attract agents like moths to a flame. It’s these kinds of dynamics that makes working for a Weichert brokerage so popular. Recruiting Isn’t Easy, but Weichert Makes it Easier Have you done a check-up of your recruiting strategy lately? If there’s one story our brokers tell us over and over, it’s how much easier recruiting was once they affiliated with Weichert. Sustained agent recruiting is one of the keys to achieving your brokerage dream, and no one does more to give you the right recruiting tools and strategies than Weichert. If your brokerage could benefit from better recruiting systems, contact us to see how we can help. For more information about the Weichert system, go to https://www.weichertfranchise.com or call 877-567-3350. Original content posted on https://www.weichertfranchise.com/blog/recruiting-strategies-for-2019/ Recruiting agents is the lifeblood of building your real estate brokerage. Agents will come and go and often it can feel like a roller coaster, but if you are constantly recruiting, you will keep your pipeline full and that will help minimize the ups and downs. It’s important to continually recruit a good mix of new and experienced agents. Above all, you want them to be productive and in alignment with the goals of your brokerage. To keep them, you need to continually provide value that they will have a tough time getting anywhere else. Having a good group of experienced agents helps maintain continuous production, while newer agents get up to speed. They can also serve as role models.
How Will You Attract Experienced Agents? As a savvy broker and business owner, you already understand the value of having a comprehensive business plan in place, but how often do you update and revisit it? It is helpful to create or update your business plan each year to help you stay on track, move the needle forward, and keep your goals front of mind. This plan should certainly outline how you intend to attract high-quality agents to your team and how many of them you need each year. At Weichert this is part of “knowing your numbers”. Here are a few ideas to consider:
The Power of a Brand In Recruiting Part of the reason for the see-saw of agent headcount is often recruiting gets a lot of attention one week, then none for the rest of the month! What do you need to have a successful recruiting program? Here are some things to consider:
At Weichert, we believe recruiting is one of the key pillars to brokerage success. This is why we provide our affiliates with guidance and support in each of the areas above. In addition, by providing agents with a full suite of selling systems, technology and marketing materials to support their business, we help our affiliates retain their agents by creating ongoing value. To learn more about the Weichert systems and the benefits they provide brokerages across the country, contact us at 877-567-3350 or view weichertfranchise.com. Original content posted on https://www.weichertfranchise.com/blog/recruiting-top-real-estate-agents/ 10/2/2018 Franchise Success Spotlight: Weichert Affiliate Dennis Murphy—Weichert, Realtors® – Donahue PartnersRead NowA Harvard University education has long been associated with some of the most extraordinary individuals in American Society. Harvard Alumni names read like a who’s who of American history, including global business leaders, politicians, diplomats and presidents.
To those distinguished alumni we add one more name: Cape Cod based Weichert® Broker, Dennis Murphy, owner of Weichert, Realtors® – Donahue Partners. While a history degree from Harvard is not a requirement for success as a real estate broker, in the Cape Cod market it doesn’t exactly hurt either. It certainly speaks to his lifelong love of Massachusetts and his decision to settle in the Cape Cod Area. For Dennis, the path to real estate had more to do with Marge Donahue, Dennis’ grandmother. Marge was a beloved figure around the Cape who founded her own agency in 1963, which she ran until her passing in 1998. “My grandmother was an inspiration to me,” says Dennis. After a stint doing advertising and marketing in New York City and being National Sales Director for America’s #1 market share television station, Dennis took over the independent agency in 1998. The Road To Weichert The 2008 recession hit Dennis’ brokerage hard. In 2009 he built out a new office but he was struggling to recruit and train agents. Dennis began to realize that he could use help. Dennis continued forward but in 2015 he met with Bill Scavone from Weichert and began to think seriously about an affiliation. “I was very interested in their lead network,” says Dennis, “We actually did a test where we acted as a customer and used competitor websites to initiate contact, which were actually two other franchisors we were considering. In each case we never got a call back at all despite multiple attempts. But inquiries made on the Weichert site were rock solid at 3 minutes per response.” This coupled with the clear and well developed systems Weichert showed Dennis really sealed the deal. In 2015, Dennis and his three agents signed with Weichert and became “Weichert, Realtors® – Donahue Partners”. The Weichert Experience The biggest difference Dennis felt after his affiliation was an overwhelming sense of relief. As Dennis puts it, “No more Dennis island.” At last he did not feel like he was in this alone. With a full support team, Dennis suddenly felt like the wind was at his back. There were regular training sessions, such as “Sharpen the Saw” which are two-day management-level seminars for training and networking that Dennis still considers invaluable. There were regional Broker Council meetings right near Boston 3 times a year where he could interact with his peers. Then there were the tools and systems. A full Fast Track training program to get new agents up and running and productive fast? Done. A step by step program for recruiting? Done. A program for promoting open houses that actually works? Done. A completely elevated and professional looking listing presentation that could be customized though an online digital platform? Done. In fact the DOORS listing presentation was so effective and liked by his agents that he saw his closing rate rise significantly as agents used it and became more comfortable delivering it. Another favorite benefit of affiliation for Dennis is simply the peer to peer relationships in the Weichert network. Both formal and informal meetings give Dennis access to a wide network of individuals inside and outside his market who are willing to help. That is the very culture of Weichert. The Future With Weichert Dennis only needs to look at his bottom line to know that some good things are happening. With a team now of close to 20 agents, Dennis has seen his GCI triple in 2 years and has met his entire previous year GCI in only 3 quarters in 2018. Dennis has his eyes on a second office in the mid-Cape area and is looking to hire 10 more agents in 2018. But the best part for Dennis is that whatever the future may bring, he knows that Weichert has his back. The Weichert Culture of Support Being a Weichert affiliate is a partnership, a collaboration, done with great respect for what you’ve already achieved and learned. After all, you’ve already built a successful business. We can help you do more. For more information on becoming a Weichert Affiliate, call 877-567-3350 or visit weichertfranchise.com. Original content posted on https://www.weichertfranchise.com/blog/franchise-success-spotlight-weichert-affiliate-dennis-murphy-weichert-realtors-donahue-partners/ Independent Brokers have generally learned things the hard way: through trial and error and experience and there are a lot of land mines out there. You may have loved the idea of being a broker and have achieved certain milestones, but the road to success can often seem like a never ending trek uphill. Is this the right direction? Am I choosing the right tools and software? Is my marketing message right? Is there more I should be doing? The challenges of lead generation, recruiting, and brand perceptions are significant and always there, especially in tight markets.
It turns out that you are not alone. At Weichert Real Estate Affiliates, Inc. we talk to independent brokers across the country every day. They are universally a motivated and experienced bunch and have a great deal of local market knowledge. These brokers often wonder what it is that they have left to learn from a national franchise brand like Weichert that they haven’t already learned at the school of hard knocks. Often you don’t know what you don’t know. While every broker is unique and has unique challenges, there are a number of common problems that create hurdles to growth in brokerages. Has your own business or business practices been “stuck” on any of these areas? No System for Recruiting and Retention Recruiting and retaining agent talent is really the foundation of a successful brokerage. Independents face multiple challenges here, often because agents have similar perceptions to home buyers. They are often attracted to well-known brands due to their lead generation potential and resources. As if this perception wasn’t tough enough, many brokers don’t have a structured recruiting system and portfolio of materials to attract and create a pipeline of new agents to draw from. Then once you recruit them, you need a way to get them up to speed – fast – so they can start contributing to your brokerage production and earn an income. There is no single magic bullet to solving the recruiting problem, but a proven process that incorporates multiple things is required. Do you have a business plan with growth goals? Have you translated those goals to specific business and recruiting activities you must engage in to be successful? Do you as a broker “know your numbers”? At Weichert, part of our job in coaching new affiliates is to teach them a system. Our system is comprehensive and includes marketing materials and training to attract and get new agents up and running once you get them. Once you have them, it’s incredibly important to provide value to keep them from walking next door. Creating a supportive culture, offering them an expansive suite of tools and marketing materials to help them market themselves and their business and providing opportunities to constantly learn and improve their skills are all ways to do this. Owner/Broker That Are Still Listing and Selling Houses Chances are if you’ve become a broker, you are highly experienced in real estate and were a darn good sales associate. It can be hard to stop doing that, even though it is actually a distraction that takes you away from the other activities you need to focus on to build and manage your business. The idea of “letting go of the bench” is a concept every broker struggles with at some point in their career. Are you that broker who feels like he needs that extra income that comes from listing and selling his own properties? Weichert business coaches will tell you quite simply, that it’s time to stop. It doesn’t happen overnight, but it has to happen in order for you to focus your attention on business-building, rather than selling. Once that happens, you’ll start to see your business grow, rather than continuing to run in place. Figuring all that out yourself is hard, which is why partners like Weichert exist to bring you proven systems that take the guesswork out of managing your brokerage. Difficulty Competing Against Recognized Brands A recognized brand can be a powerful magnet for drawing buyers and sellers into your agency, as well as recruits. If you are an independent broker, you understand this having spent years building a local reputation to compete with more recognizable brands in your local market. But for sellers who don’t know you or don’t get explicitly referred to you, not having the backing of a national brand can make you work harder for listings and recruits. We hear it all the time, a variation of “…my recruiting problems basically ended the day I put the Weichert Sign on the building…” Consider Whether A Partner Is Right For You. While independent brokers may face stiff challenges, they are not insurmountable. Sometimes a leg up from the right partner can be just what you need to get over the top of that seemingly endless hill. A recognized brand can help you stand out for sure, but the real power of plugging into a known brand are the assets, marketing and support and proven systems they bring to you in your local market. Couple that with other benefits such as investments in lead generation and technology, investments that few independent brokerages could develop or sustain on their own, you have a powerful formula for success. Your identity doesn’t go away, it gets amplified ten-fold. That’s why the Weichert system is so much more powerful than just our name and could be the right partner for you. Please consider contacting the team at Weichert to discuss your unique situation, we can help: 877-746-2067 or weichertfranchise.com Original content posted on https://www.weichertfranchise.com/blog/the-top-3-challenges-to-brokerage-growth-and-success/ |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. Archives
July 2020
Categories
All
|