We read article after article about how to attract and keep agents. We learn how to do recruiting presentations that we hope are mesmerizing to our candidates—so mesmerizing that they’ll say yes when we offer them a position in our company. We hone our skills so we’re better managers, trainers, and coaches. We worry about retention, and spend thousands of dollars a year just to attend workshops on retention techniques. We spend thousands of dollars on retention! So, I’m going to turn the tables, and ask, what do those agents owe to you?
You work hard. If you’re an owner, you’ve also put thousands and thousands of your dollars at risk to start and run your real estate company. It’s my opinion that agents owe you in certain ways. I’m not talking about commissions. I’m talking about actions. If you're an agent, you need to find out what your managers expects of you, too.
Mutual Expectations Exchanged in the Interview
The real estate industry is the only industry I know that hires with a “trust me” from both the manager and the agent. No mutual expectations here, just promises! It may have worked in the past, but it won’t work in the future. A challenging market means we’ll have to do things differently. Right now, make a list of what you expect—and have a right to expect—from an agent. Draw up a Mutual Expectations agreement (See Up and Running in 30 Days). Go over that agreement in the interview. Get it signed. Doing it after you’ve hired the agent is way too late!
Consequences of the Mutual Expectations Agreement
Worried about retention? This is one of the best retention tools in the world—hiring agents who promise to go to work! Your experienced agents will love the fact that you’re not hiring dead-wood to just get in their way and pull down the reputation of the company. Your new agents will get right to work, because they understand that is the expectation. Will you miss hiring a few people? Sure--the ones that didn’t intend to go to work. Agents: Find out before you start working for that office exactly what is expected of you. Question: If there are no expectations, what quality of team do you think exists there?
Doing My Best to Help you Out
For the past few weeks, I’ve been working on the third edition of Up and Running in 30 Days, the business start-up plan for the new agent. I’ve added as much management support in it as I possibly can, including a Mutual Expectations agreement that is tied to the Up and Running 4-week business start-up plan. This plan expects a lot from the new agent, but I know, from my surveys, that the new agent expects a lot—fast—from the business! (That’s why it’s such an aggressive ‘get out there and run’ program—perfect for a challenging market, too). I just finished writing a section on how the new agent can get the best from her manager. I thought you’d enjoy it:
Ten Commandments to Get the Best from your Manager
Do the work.
Don't argue.
Don't make excuses.
Don't tell the manager you've been in the business two weeks and you have a better way.
Do thank your manager.
Do tell other agents that you appreciate your manager's efforts.
Do tell other new agents you meet in other companies that you have a great manager.
Don't bug other people in the office to find another answer because you didn't like your manager's answer.
Don't change the program because you don't like it.
Don't miss a coaching appointment.
Agents and Managers: I’d love to hear what you think of my ‘ten commandments.’ Are there others you think are important? Why not make your own ten commandments and discuss them in your interview process. Then, turn the tables and ask the agent about his expectations of you and the office. Getting agreement on what we both expect before we decide to work together is key to a happy partnership. The only surprises I want you and your agent to have after you start working together are good ones!
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