Hard work is important, a necessity even, but hard work alone will not guarantee success.
In this short sales session, real estate agency profit consultant, Gary Pittard, says that hard work is the entry level to success.
You can work hard on the wrong actions and accomplish little.
“One size fits all” is said to be the biggest lie told in retail. And we all know it’s untrue.
It’s the same with leadership. One management style does not fit all. Leaders who manage all salespeople the same way risk losing their best performers.
Pittard has a complete business system for building a profitable real estate agency called the Agency Profit System®. The newest version was ready for release in early 2020, but due to COVID-19 we have been unable to present it live.
Essential Element 5 is Training & Coaching. It is an important element that all leaders must continually develop.
There are three stages to Training & Coaching.
Stage 1 – Rookie Stage – Micromanagement
A salesperson is a rookie from when they start until they achieve ‘Professional Level’ – $300,000 gross fee production annually.
To get a rookie off to a flying start, and to make them as productive as possible as soon as possible, a leader must work closely with them to the point of micromanagement.
- Daily one-on-one meetings with the leader
- Examination of actions completed each day, monitoring of actions, especially the number of prospecting calls and appointments set
- Monitoring mandatory study requirements
- Testing on material studied
- Practising listing presentation in preparation for presenting to clients in the field
Failure to work closely with a rookie almost certainly dooms them to mediocrity.
Stage 2 – Leadership Stage – Managing the Professional
Micromanagement ceases in Stage 2. Once the salesperson has achieved Professional Level, they are no longer a rookie.
Professionals can be trusted to do the right actions. In this stage the leader becomes more of a guide than a manager.
Guiding by the leader is more in the way of suggestions. For example, “Your listings seem to be low – what do you think may be the cause?” Or, “Are you happy with your prospecting levels, or do you think you need to up the numbers?”
If the salesperson achieves targets, the leader continues guiding. Should the results fall below target, the salesperson is said to be in a slump and micromanagement recommences until the salesperson gets back on track.
Stage 3 – Mentor Stage – The Success Partnership
When the salesperson achieves a Gold Badge in Pittard’s Winners Circle®, the salesperson’s Training & Coaching moves to the Mentor Stage.
In this stage, the leader offers advice when the winner asks for it. One-on-one time is less formal – perhaps in a coffee shop, or over lunch.
Guidance by the leader takes the form of, “Is there anything I can do to help you?”. The leader constantly asks the winner what can be done to give him or her more support.
It is important that all team members are shown care, support and respect, but many leaders think their high achievers are ‘set and forget’. This is a dangerous practice, one that may see the winner walk into the leader’s office and resign.
Feel the Love
High achievers must ‘feel the love’ from their leaders. The relationship becomes a success partnership. Many of our leaders have given their high achievers a stake in the business, or they partner their winners in property investments.
Our goal as leaders is to help our high achievers become rich, to invest some of their high income, to grow and prosper. This is how you keep winners and prevent them from being poached by competitors.
When you look at this this way, Training & Coaching takes on a whole new meaning, doesn’t it? One size certainly does not fit all!
It’s more than just running training meetings – it’s bringing out the best in your salespeople. And isn’t that the leader’s job?
In this short leadership session, real estate agency profit consultant, Gary Pittard, discusses meetings, and why so many are ineffective.
Meetings have been referred to as ‘corporate procrastination’ – a way of making it appear that something is being accomplished, that decisions are being made when in fact they are not.
There are procedural meetings and dynamic meetings that get results. What type do you run?
- A feeling of deep admiration for someone or something elicited by their abilities, qualities, or achievements
- Due regard for the feelings, wishes, or rights of others.
To respect someone is to admire qualities in them and to show regard for their feelings, wishes and rights. Respect should be shown to everyone we meet, not just to those who can benefit us.
This may seem controversial, but not everybody in our industry agrees that all people should be treated with respect – although nobody will say so publicly.
But ignore their words and look at their actions. Here are three examples, but there are many more. Ask yourself, do these industry practices show respect? Do they make you proud?
Buyers are often treated poorly. A classic example is when an agent has multiple buyers on one property. Several buyers pay for pest inspections on properties they don’t have a chance of buying because the agent has quoted a low bait price to make them interested. They pay hundreds of dollars for building and pest inspections and never get to make a bid.
Buyers’ offers are disclosed to other buyers. No agent will admit to it, but we know that agents do this. It shows a lack of respect to the buyer who made the offer and shows a lack of ethics in sharing the offer with another interested party.
It’s not called ‘conditioning’ these days, but “managing the clients’ expectations” is mutton dressed as lamb. Whenever a salesperson quotes an unachievable price to sellers, or lies by omission and allows sellers to believe they will achieve an unrealistic price, it’s still conditioning.
This disgraceful practice is common in the industry. It results in sellers being pressured to reduce from a price the listing agent led them to believe they would get. ‘Market feedback’ is blamed for the failure to achieve the quoted price, but it all began with the salesperson’s dishonesty at the listing presentation.
Clients have long memories. If you intend on staying in real estate for the long haul, you need repeat business. In order to get repeat business, you must be honest and respectful at all times.
Treat them honestly and fairly. Treat them as you would a family member, and not as a one-off transaction.
Have you ever thought about what your business environment would be like if you were the best salesperson in the world?
In this short sales session, real estate agency profit consultant, Gary Pittard, asks the question, if you were the best salesperson in the world, what would you do?
Decide what must be done and do it. Every day. And then, one day, somebody may just call YOU, the best salesperson in the world.
Somebody must hold that title. Why not you?
Agency leaders often complain that they can’t find good people. This mindset can lead you to tolerate poor performers. And if you don’t believe you can find better people, you won’t try to replace them.
It’s true that before the COVID-19 pandemic, there was a lot of competition for the right people.
Smart leaders recruit nice people with little or no real estate experience, and then teach those salespeople how to sell real estate the right way. With proper training systems, that is more straightforward than you might think.
Smart leaders don’t use the recruiting system so typical in our industry – poach competitors’ salespeople. That’s a recipe for failure.
If a salesperson is doing so well where they are now, why would they want to leave and come to your agency? The experienced salespeople who are prepared to ‘jump ship’ are often the worst people you could hire.
But pre-pandemic, other industries were looking for the same type of people we were. We are looking for semi-skilled people who are well presented, well spoken, and who learn fast. Many industries seek people like this. The hiring pool was very shallow.
Well, the ‘pool’ just got deeper!
I do not make light of the hardship that the COVID-19 pandemic has caused for many people, but the pandemic has an upside:
There are now many good people looking for work.
Now is the time to recruit, to build a winning team – one that will help you navigate the rough waters that many economic forecasters are predicting for 2021.
There are many potential winners out there who are looking for a dynamic company led by a focused leader, who can train them, bring out their best and help them to achieve their goals.
To recruit effectively, you need a few things working for you – an attractive offer (hint: the typical industry reward systems do NOT attract winners), a proven recruitment program, training systems, induction programs, and a company that is well-led and a desirable place to work.
All these elements are under your control, even if you don’t have them now.
Pittard’s Agency Profit System® offers leaders a recruitment program that works. The average production of Pittard salespeople is three times the typical industry average. With results like these, who wouldn’t find space for more winners?
Winners are out there – now more than ever.
Are you ready to dive into the pool?
Are you a leader who says, “I can’t seem to motivate my people?” If you are, stop trying!
In this short leadership session, real estate agency profit consultant, Gary Pittard, says that motivating people is not your job. As a leader, you can inspire people, yes, but motivation comes from within. You can’t reach unmotivated people.
Prior to the COVID-19 pandemic, many salespeople were saying that they were selling everything they listed. “We’d make more sales if we had more listings” was a common statement.
March 2020 was an uncertain month. Nobody knew what restrictions the government would apply and what effects those restrictions may have on business. This caused many salespeople to ‘mark time’ where actions were concerned. Some cut their hours, most cut their prospecting, and often their offices cut marketing to save money.
Nobody seemed to notice the overall drop in actions that create listings, because most were focused on survival.
Fair enough – but action and inaction have consequences. Cutting marketing and prospecting (inaction) had a knock-on effect months later. That knock-on effect was a shortage of stock.
Pre-pandemic, salespeople complained of a shortage of stock. But cutting down prospecting actions, and cutting down marketing actions, only compounded the problem. If you were low on stock before the pandemic started, and if you cut actions that create listings, you’re even shorter on stock now.
Obvious in hindsight, huh?
Okay, you’re short of stock. What are you doing about it?
If a lack of marketing and prospecting caused a lack of stock, it stands to reason that by increasing marketing and prospecting to HIGH LEVELS, over time your stock will increase. And with that increase in stock come more sales.
For decades we told salespeople, “Massive action leads to massive results”. But more recently I modified that saying. I now advise salespeople: “Massive RIGHT action leads to massive results”.
You can be very busy on the wrong actions. It’s massive amounts of the right actions that get results.
As I wrote this article I received an email from Wayne Beard, of Harcourts West Ryde. The email said, “We have had 10 listing enquiries so far this month. This is because I doubled our letterbox drops last month”. Smart man.
If you’re low on stock, you have an empty listing pipeline. That empty listing pipeline means that you have little to sell. That leads to an empty buyer pipeline.
If you’re not talking to people, you’re emptying your sales pipeline.
You can’t sell what you don’t have.
What are you doing to get more stock?
In this short sales session, real estate agency profit consultant, Gary Pittard, discusses the importance of Persistence.
“Don’t quit before the miracle happens”, the late Bede Donovan used to say. Keep going!
Set goals, plan, study, apply what you learn, and persist at the right actions, and success for you is inevitable.
As leaders we’ve spent a large part of the year dealing with uncertainty, perhaps even dealing with our fears and with those of our team members and our clients.
So, where to from here? To a large degree, that’s up to you.
In the early days of the pandemic we took a mental battering. One leader told me that he felt he was ‘living in dog years’. Fortunately, that feeling passed, but for a while we were putting in some long days, and mentally challenging ones at that.
How is your thinking now? How are you feeling now?
Are you feeling optimistic with hope for the future? I hope you are. Because how you think and feel determines how you act. And your actions determine your success.
We’re heading into the last quarter of 2020. If you’ve followed my advice from previous articles, you’ve ramped up your office’s marketing and have your team prospecting.
And if you’re smart, you’ve got your team training. Now is not the time for incompetence.
I heard a few leaders say that having their salespeople on the JobKeeper allowance was like having them on paid leave. Really? Who tolerates people like that?
Time to dust off the cobwebs and get to work. There are people out there who want to sell, and there are people who want to buy. Let’s go and look for them and sign them up.
So far, you’ve brought your business through some harrowing times, but now is the time to set goals for your business and to put the focus back onto results.
Where to from here?
You decide. Up or down – you’re leading your business somewhere!
“Leaders who worry about the state of the real estate market do so because they rely on ‘good’ markets for their success” – Gary Pittard.
This short leadership session explains that this is a dangerous way to run a business. Good businesses do not rely on the market; they rely on the skill of their teams to make sales in any market.
I have said on many occasions that clear goals are an essential element in achieving consistent results.
No doubt, many of you began 2020 with clear goals. Then along came COVID-19 and perhaps your goals went out the window. And if you didn’t abandon the idea of achieving goals this year, you may have put your goals on hold. I wouldn’t blame you if you did.
But without goals, the adverse effects of the pandemic on your income will be deeper and remain longer.
If you put your goals on hold, may I suggest that you dust them off and reset them?
Survival, or Growth and Prosperity?
By the end of September, three-quarters of 2020 will be behind you.
You have four months to get yourself out of survival thinking and into a growth and prosperity mindset. You have four months left of the year to get results.
And which line of thinking will serve you better – focusing on surviving, or focusing on growth and prosperity?
We become what we think about. Think survival and you will survive. Think prosperity and you will do the actions to manifest prosperity in your life.
The last pandemic the world saw was in 1918. I’ve never seen a pandemic before and neither have you. COVID-19 was a shock.
However, we need to keep moving forward!
Set goals, put plans in place, and focus on prosperity. Then get to work.
Your thinking makes all the difference.
What you do from this point on determines whether you’ll be a victim, or somebody who overcame adversity and who grew not only as a salesperson but also as a human being.
I can’t change the COVID situation, but I can change how I deal with it. I can choose to set goals and to work toward them.
You have that choice too.
Dust off those goals!