How Do We Keep Buyer Agents on Track?

Transcript:

Julie asked a question, "Can you give us an example of what you say to a buyer agent who is consistently not selling the amount of houses they should month after month?"

Schedule a FREE Strategy Session

You should be in a rhythm where you're having weekly meetings with your buyer agents and they are running the meeting. This was a thread that Kyle and Andy put out there a while back. It will never come to the point where they are not selling homes month after month; they're just not doing the activities. If you are running your business with the Agent Performance Agreement and you're using the weekly tracker, there is no surprise. They aren't doing their activities and you're sharing that with them or the team. Every week, you're having a quick 10-15 minute meeting on that.

The meeting is a 10 to 15 minute meeting where the buyer agent runs the meeting. This 60 or 90 days in, you would have 8 to 10 meetings with the agent. Every meeting starts with a positive focus, one thing personally and one thing professionally. Then you go through their weekly success tracker or KDNA. You know what they've been doing for the last 60 days, if all their activities are through the roof, you are having these conversations, "What happened when you met with that person? Did you present the loyalty agreement?" That's the level of service that's required for these agents. They're taking the pressure off of you, you just have to show up to that meeting.

We went to 8-11am required new business development with our team on Monday and Friday in the office. Monday, Chari is holding our listing agent 1-on-1's and Friday she is doing the 15-minute buyer's agent 1-on-1's. We do a quick CRM review - if they were on calls did they answers calls? You have all the data to know why they weren't successful. Then just going through issues, identifying issues in their business discussing it, and solving problems. Ask them what they want to work on next week to make their business even better. Could you imagine a cadence of 15-minute meetings where you have a 1-page and are taking notes to put in their file?

Jason asked the question, "What's an OT notebook?" It's just a green notebook we ask our agent to keep with them where they can have something to write in and they can talk about their OT time. We are particular about every call that comes in. Every call that comes in on a buyer line during the week is listened in on.

Commit to Buyer Agent Weekly L10s. That's Level 10, a traction tool. And they're going to run it. Julie, does that answer your question? What you say is that there is nothing to say because you guys are coming to the conclusion every week of what's working and what's not working. Are you doing the activities? It's not this big surprise anymore. It's easier to run it this way than let it go a month or two or three, or just assume that everything is going fine. Have this printed out in a whiteboard in your office, and go through this list. They've got to be honest if they want to be successful, and you're just here to give them the tools to be successful.

Systemize it to where you don't have to come up with anything to say, all they need to do is be in the office from 8 to 11 every Friday, you're going to pick the agents, they're going to come in to do their L10, this list will be on the board, and they're going to run through it. Boom.

You're just keeping some notes in a file and when it comes down to having a difficult conversation, it's not difficult. "Hey dude, we've had 10 weekly meetings and every week we have talked about where your actives are not where they need to be. We talked about you have some challenges with your little kids, which is totally cool, I love kids, I love family, but you've got to operate at a higher level if this is going to work. I'm going to give you a 30-day action plan and within the 30 days, if I don't see your activity level pick up, I know you're not going to hit your goals and you're not going to be successful. We are both going to be frustrated, and neither of us will like that. I don't want that. 30 days, we're going to have four more weekly meetings. On the fourth one, we are going to have another conversation to see if this is the best fit for you. I'm rooting for you, I'm wanting you to make it. Are you up for it? Can you do this? High five."