I have the privilege of speaking at several franchise and board events. I personally sold a house a day over a long career, and I understand other offices that “get it.”
In meeting the top brokers and managers, I have found some commonalities. Below are systems that are currently active in the top offices in North America.
1. Top offices understand inventory. More listings bring more activity, more buyers, more double-ended transactions, more sellers, more recognition, and more recruits! Higher splits are paid on listing sales. Every new listing taken is discussed each week at the office meeting. Awards are given to listing generators. Agents share how they got the listing. The manager asks everyone what new pro-active seller lead generation system they are working on. If they are not working on any, the agents are aggressively coached in obtaining one. A listing culture permeates the office.
2. The broker, owners, and managers understand and teach the agents that the only reason a property does not sell is because the seller is under-motivated, does not understand the holding cost, and/or the property is overpriced. Period.
3. Management doesn’t talk about the market on a macro-economic scale. They don’t care! Talking about the market getting better means that the agents believe they don’t have to work now, because it will be like the order-taking environments of 2006 sometime soon.
4. Local problems are discussed and cured. If the appraisals are a problem, then all appraisers are met with comps and sales that fell outside the MLS so all agents can fight for the value. These are discussed at office meetings. It’s the sergeants that have to take the neighborhoods.
5. Buyers sign loyalty agreements, or company resources are not spent. Commissions are not reduced. Overpriced listings are only taken, if attached to a motivated seller. Short sales are only handled if it meets the criteria for a possible closing. Buyers are shown “off market” property as a way to impress, earn loyalty, create double-ended closings, and meet new potential sellers.
I train on systems that work. These are the same systems that other great managers share with their agents every day. It seems to be what makes winners.
Walter Sanford was one of the top real estate agents in North America for nearly thirty years, and now, he is one of the most requested speakers, trainers, and coaches. He has authored dozens of systems and books on checklists, pro-active lead generation, affiliate lead generation, plus others. You can hire Walter for speaking engagements or coaching or buy his products by visiting his website. For more details, visit www.waltersanford.com, call 815.929.9258, or email Walter at firstname.lastname@example.org.