We've finally reached the 'personal development strategy' trend in real estate. To do that, we had to go through an evolution. We've found that the brand of the company doesn't assure agent productivity, and training alone doesn't get us production. We're now at the dawn of an exciting era, where careful selection, effective training, and accountability coaching can merge to turn out a successful professional.
A Leap from 'Bulk Hiring' to Selective Development
That's quite a recruiting strategy leap for a real estate company: From 'come one, come all' to selective development of individuals. And, this strategy is not really in full bloom yet. Many companies still use the 'fog the mirror' test to hire. But, with higher quality, more educated and focused recruits, there is a growing demand from recruits for effective professional development. To hire the next generation of real estate 'careerists', a company must offer the same results-based training and accountability coaching that these job hunters can find in other types of sales companies (and can find now in some major real estate companies).
The Danger: Not Enough Recruits?
Companies are fearful of selective hiring, results-based training and accountability coaching because it may cut down on the number of recruits they get. Okay. What's your turnover rate now? How much does it cost you for each recruit who doesn't make it? Would you rather have 10 agents who each sell one home and get out of the business, or would you rather have 3 agents who each sell 10 homes their first year-and stay with you for years? Which scenario would be better for your recruiting efforts? Which scenario costs you many dollars? Which makes you dollars?
Likes Attract
For years, the real estate industry has used the top producer in the office as a role model to hire new agents (even if the manager knows there's no way that recruit will ever be able to attain the sales records of his top producer). But, here's a way to beat that hiring strategy. Hire new agents, and train and coach them to do really well in their first year. Use the statistics to prove your methods work. Then, since likes attract, the word will spread that you have the best program for determined career successes. Anyone who's serious about being successful will have to interview with you! That's the strategy I used to lead my office to number one in my company, and in my market.
What You'll Accomplish By Coaching
Business studies prove that coaching dramatically increases productivity. Instead of hiring people, sending them through a training program, and hoping for the best, you'll have the opportunity to actually develop them, creating success for them and loyalty and increased profitability to you.
Who's 'Coachable'?
Recently, I had to interview potential leadership for job positions. One of the questions was, "Have you ever been coached professionally?" Another was, "Have you ever been held accountable for results in business?" What was amazing to me was that most people didn't know what I was talking about! It showed me that most real estate professionals do not experience any coaching or accountability in their careers.
Why would you want to know the answers to these questions? In the interview, you must determine who will accept and embrace coaching. If the person says, "I don't want any help. I'm self-directed." In a few cases, that is true. Then ask, "How do you motivate yourself?" In fact, in the interview process I described above, I found that the motivation question got me a lot of wimpy answers. In truth, very few people are good at maintaining focus on their own. Coaching helps maintain focus for us very social people, keeps us managers 'in the loop', and provides success stories for our recruiting presentations.
Learn the Skills of Effective Accountability Coaching
Coaching is a whole skill set that we must learn to be effective. I first learned to coach to higher performance by observing my wonderful piano and flute teachers. Then, I applied those principles to my own piano and flute students for a decade. Finally, I honed my skills by coaching hundreds of real estate professionals. I have made a study of what makes an effective coach. One of my programs for managers teaches them the skills of effective coaching, and how to use their coaching skills to recruit and retain winners.
Get on the Pro-Active Side of Adding Coaching to Your Repertoire
There are some powerful companies today who provide coaching and consulting to their agents. Don't get into a defensive position of learning those skills when it's too late. Put the coaching questions into your interview process. Learn those coaching skills. Create success through coaching, and you'll be on the pro-active side of personal development, to recruit and retain your best people.
