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Buyers’ agents are becoming more
commonplace for “top gun”
realtors. The “top gun” agent
often doesn’t have the time to devote to buyers during the course of the week,
even the clients whose homes they have just sold, who need to find a new home
before escrow closes on the home they have sold.
Having a buyers’ agent handle these clients and situations sets the
“top gun” agent free for other priorities.
But most agents who do use buyers’ agents end up spending a lot of time
struggling with them. They struggle
to manage them, to coach them and to hold them accountable.
Many “top gun” agents also pay a buyers’ agent exorbitant
commission splits. If they had the
courage to look honestly at their businesses, they would realize that they are
not realizing any profit from employing buyers’ agents. These agents will
increase their gross without netting any more dollars.
The real increase is only in their egos and their sales volumes. The first step to hiring a buyers’ agent
is to clearly define the role you want this person to play in the business, as
well as your expectations. Create a
job description and set minimum standards of production before you hire someone.
Clearly define the time you will spend in communication and coaching with
this person daily and weekly. As the lead agent, you must clearly define
the job of buyers’ agent. Most
importantly, you need a clear definition of who this person will be. What are you looking for in a buyers’ agent?
You can’t hit a target you can’t see; in order to find the right
person, you need to create a target profile of that person. Once you have found a few candidates, you
must carefully evaluate each of them for 3 factors: 1) How are this candidate’s sales skills? Can he or she sell? 2) What style of sales does this person use? Is it consistent with your philosophy of sales? 3)
Will this person do it? Does he or she have the desire? How are this
candidate’s sales skills? Sales
skills are exactly that -- skills. Does
this person have the necessary skill level to excel?
Is he or she focused on improving that skill level?
Your buyers’ agent must have the knowledge, and understand the
principles, of a successful salesperson. A
candidate can be the nicest person in the world, someone whom you would really
enjoy having on your team, but with limited skills this person will not achieve
an adequate return on your investment of energy and time. What style of selling does this candidate use? What is this person naturally like in a sales situation? Does she become too pushy, or is she so meek that she never asks for the order? How are his organization skills and the structure of his time each day? You don’t want someone to drive away clients with an aggressive style. Neither do you want the person who shows 25 + houses to a buyer, eating up enormous amounts of time and energy on each one. You need to evaluate each candidate’s style based on the style that you have defined for your team, and on how the whole team will fit together. Does this candidate
have the desire? Does he have the
thing inside of him that says “I will do this or die trying?” Is she willing to put in the long hours, and to take the
rejection, in order to get up to cruising altitude?
Does she truly love the selling process and her job?
Does he have the ability to motivate himself, or will he need you to
provide a constant supply of motivation? As a “top gun”
agent, the worst thing that you can do to yourself and to your business is
bringing in the wrong person. Evaluate
your business and your needs thoroughly before you commit to adding and training
new staff; then evaluate candidates thoroughly before hiring one. With the time and effort it takes to train even an
experienced agent to your system before he or she can create closings, it will
be months before you get a return on your investment.
You are front-loading this relationship heavily.
You are investing your time, effort and energy now to get a future
return. Don’t short-change your
business with an inadequate evaluation and hiring process that will push your
return too far into the future. Build your staff for the long haul. The biggest expense you will have is hiring and training new staff members. Make the right selection the first time. |
