B-SCHOOL COACHING CALL: How to Surround Yourself with Productive Agents

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Transcript:

Striving for success without hard work is like trying to harvest where you haven't planted. So reaping and sowing. 

One thing that we've been pretty good about - and when I look across the country and at some of you, you may have ten agents that will help you sell 200 homes. Or 8 agents that will help you sell 60 homes and you're selling 50 on your own. You're surrounded by agents that aren't as productive as you are or as you could be.

The Bare Minimum

It's for a variety of reasons. Maybe they are the caliber of talent that you need them to be, but it comes down to just having some sort of standard for your team. We have on the buy side a 2-deal per month standard. It's really unofficially 3. We don't want anyone on our team that doesn't have the ability to sell more than 36 homes. Our average I think this year was about 46.

Having those minimum standards and having your agents commit publicly to goals is half the battle. I know we've gone through some of it, and most of you that went to the October Intensive on goal setting took that information back to your teams, and you were able to do some good stuff with it. If you haven't gone through that simple process, you have to do that.

And if you're solo it's even more important. You've got to be able to set goals for yourself in terms of buyers and sellers, the number of leads you're going to need on the buy side, appointments, buyers taken. There's tools in Google Drive to help you calculate all those things.

Calculating Agent Income Goals

There are some simple tools that you can use in here to play around with numbers in your business. I would encourage you to do that, whatever level you're at. This tool from John Mendoza is just a simple Agent Income Calculator. I use this with agents that I meet with, or we meet with as a team, to look at when you're selling 36 homes with my team, which is the minimum, you're gonna take home $100 Grand. Not including transaction fees - there's an additional $10 Grand there - so it's about $113,000 to be on my team at 3 transactions a month.

The problem is most teams have agents selling at best 17 homes, and people complain about only making $48,000. That's the struggle; you need to find people that are gonna be able to be super productive. That's a good tool for you to use.