Increase Agent Retention With A 10 Year Career Track

Schedule a FREE Strategy Session

Transcript:

This has been a critical tool for us in recruiting. This is our career track, which is in the August Team Advance document. You come in as a buyer specialist and you graduate as a senior buyer specialist, after which you are eligible to become a listing partner and then a senior listing partner, and after all of that you can become an expansion partner.

It doesn't mean that you can't spend 6 months on the team as a buyer specialist and jump into an expansion partner role, or that we can't just hire an expansion partner outright, we just use this as a trigger.

As a buyer specialist you must reach 24 sides and $5.4 million in volume in the first 12 months after a 90 day ramp up. You can also achieve a designation as a Certified Buyer Specialist if you perform well and demonstrate cultural alignment. You also receive a $1,000 bonus if you reach $1 million in sales in a month. 

As you work up the ladder, you get all of these things, plus a branded website when you become a Senior Buyer Specialist, and we pay your MLS and Realtor dues. 

When you become a listing partner you get a gas & cell phone allowance and a 27-inch iMac. Our senior listing partners get a car allowance, and when you're an expansion partner you get a company car and an expense account. 

This is pretty cool to talk to someone about a 10-year career arc. This is a game changer even if you're a solo agent. Even though you're doing all of these things already, when you interview someone you need to let them know that you want them to replace you as a senior buyer specialist. You can use this no matter where you are in your growth process. 

Jim made a comment about what the expansion partner offer looks like when you get it created. We're playing with the numbers now and it's basically just someone that's going to handle buyers and sellers. Initally we wanted this person to build a team, but now we're going to support them from the expansion hub. We're going with the KW model where we're keeping admins and lead-gen people in the expansion hub. This partner will go out and sell like 7 homes a month, and they'll pay for a showing agent our of their own income. 

A lot of these guys doing expansion, most of them aren't extremely profitable while doing it. I can put out five expansion partners in our core market, which is the initial push. This will teach us lessons on how to leverage our brand in our core market. 

We want to serve 10,000 families in a year, and if nothing else, it's something to get excited about. If we fail, then no harm done. We'll still be ahead of where we were yesterday.