How To Get Your Agents To Produce and Hold Them Accountable (For Team Leaders & Brokerage Owners)

Summary

The podcast discusses strategies for real estate team leaders and brokerage owners to get their agents producing at higher levels through effective onboarding, setting clear expectations, accountability measures, and repercussions for underperformance. It emphasizes the importance of providing proper resources, training, tools, and skills for agents to convert leads successfully while ensuring the business sees an acceptable return on investment from the leads supplied to agents.

Takeaways

• 😊 Set clear expectations and protocols for agents during recruiting and onboarding
• 📝 Have a highly effective agent onboarding process to train them properly
• 👍 Use micro-commitments like handshakes to secure buy-in from agents
• 🔍 Inspect daily what you expect from agents via trackers and CRM task reviews
• ⚖️ Calculate a minimum 400% ROI when providing leads to agents
• ⏰ Require agents to update trackers by 9am daily to monitor performance
• ❌ Cut off poor performing agents from leads for 7 days as a probation period
• 🚨 Reduce leads provided if agents have overdue CRM tasks indicating overwhelm
• 📈 Track agent ROI long-term but focus on daily activities to catch problems early
• 🔁 Allow struggling agents to re-test or self-generate a deal to regain access to leads

Q & A

What is the main purpose of effective onboarding for new agents?

Effective onboarding ensures agents understand expectations, have the proper training and resources, and know the exact processes to follow to be successful.

What are the key things you look for daily to inspect what you expect from agents?

The two main things are 1) ensuring the tracking system is updated by 9am each weekday, and 2) making sure there are no outstanding tasks left over in the CRM from the previous day.

What is the 30-day test you mentioned and what is the purpose of it?

The 30-day test involves giving new agents 200 leads to follow up on for 2 hours a day, Monday-Friday. It develops key habits and skills, teaches them all leads have potential, and typically results in at least one closed client.

What is your minimum expected ROI on leads you provide agents?

I expect a minimum 400% gross return. So if I invest $1 in leads, I need to see $4 back in gross commission, before factoring in splits with the agent and my own expenses.

How long do you typically wait to evaluate if an agent is providing an acceptable ROI?

It depends on the lead source, but I give it ample time, at least 6 months in most cases, before determining if the ROI meets expectations. I track daily actions rather than wait that long to take action if needed.

What happens if an agent fails to update their tracker or clear out CRM tasks consistently?

The first offense results in a 7-day probation where they are taken off leads. After that, they go off leads indefinitely until they can prove themselves by passing the 30-day test again or self-generating a closed deal.

You mentioned having both a leads division and non-leads division. What is the difference?

The leads division has accountability tied to the leads I provide. The non-leads division offers support and training but agents must self-generate their own leads. It allows flexibility for different work styles.

What is the recruiting and onboarding process you follow for the leads division?

In recruiting I set clear expectations upfront. Onboarding trains them thoroughly. I then do a 30-day test on leads to ensure they have the skills and commitment before investing further.

How do you make sure agents have all the training and resources needed to be successful?

We have continual training sessions multiple times a week on all facets of the business. I aim to overprepare them with everything they could possibly need like a military general would his soldiers before battle.

What happens if an agent continues to repeatedly fail at meeting expectations?

After multiple failures despite opportunities to improve, they likely get transitioned to the non-leads division or removed altogether if it seems to be an issue with their character or commitment.