Be Prepared to STOP Losing Market Share

Meeting Change Head On

By Real Estate Recruiting Coach and Speaker Judy LaDeur

On a recent webinar, we discussed shifting markets and the cyclical nature of our industry. The big question of the day is how will you handle CHANGE?

Change is inevitable, and there are definitely changes on the horizon which could impact the real estate industry. Potential changes in Washington, DC, interest rates increasing, or, as many financial experts predict, another bubble possibly looming. Regardless of what change may or may not take place in the near future, the one thing that we are certain of is that thousands of agents are getting ready to retire. Many of the baby boomer agents are planning their exit strategy today.

Bottom line? As a broker, if just 10 of your agents leave over the next few years, averaging $5 million in business each you lose 50 million dollars in business and market share. Many of those agents looking to retire are selling far more than $5 million in real estate. The impact to you, the broker, and your organization is that when you lose market share it makes it tougher for everyone in the office to compete. There is a solution. Implement a program that allows your agents to partner up with another agent in your office one to two years before they retire, forming a team. That’s the first step towards a retiring agent being able to sell their business.

Putting this in place is a win-win for everyone. The retiring agent gets to sell their business and you retain the market share.  Agents are selling their businesses for $100,000 or more. It’s a great retention tool and it’s a great recruiting tool. If we study the past one thing we know for sure is that the next time the market tightens up or it gets tough to sell real estate, we will see a huge number of agents say, “I’m done!” 

A recent NAR survey indicated that 87% of all agents surveyed, plan to walk away from their real estate business without even trying to sell it!  That’s why we put a system together to teach agents everything they need to sell or acquire a thriving real estate business, including sample letters, sample contracts, guidelines, success strategies, behavior profiles, database management insights.

Brokers, create some time and space for this kind of training in your organization. It’s both a great recruiting tool and a way for you to provide this timely topic for your team so that they are not just working IN their businesses – but working ON their businesses.

Perfect for agents who are retiring or relocating, agents who want to develop a business that they can sell in the future, agents who want to acquire a business to increase their income, as well as EVERY broker! Brokers no longer need to lose the market share of retiring and relocating agents.

We’ll be discussing this topic on our upcoming webinar June 29th, 11 am Eastern.  We’d love to have you join us! , register today!

If you are interested in bringing this workshop to your team, email us! 

Want to continue to learn how to be the turn-to broker in your market?  Bookmark our blogand join The Profitable Recruiter today.  We have a full spectrum of membership benefits with all the tools, strategies and solutions you need to position yourself to win this year and every year. Our goal is for you to become the “turn-to” broker in your area for every agent.  

Join today and take advantage of our special offer of 35% off with the promo code PLAN35 any pro membership.  That’s 35% off everything you need to be in the right place at the right time when the agents you want are ready to make a move – including SEVEN HOURS of recruiting audio training!  What are you waiting for? When you join – you and up to 10 managers can access your account! Try it for a month and see what it can do for you.

 

Business Planning for Brokers

Getting a Jump on the Competition

With Real Estate Coach Judy LaDeur

This week we had a great member webinar on business planning. We talked about putting the pieces in place long before your competitors do so that you can have an amazing finish to this year and a head start on your best year ever next year!

Here are the questions you should be asking yourself:

On Business Planning:

  • Do I have a mission statement?
  • What is my platform?
  • What is it that our company does really well?
  • What are my company objectives for 2018?
  • How much do I know about your competition?
  • Is it time to create or add new tools?
  • Have I recently evaluated my compelling reasons to join? Are they still compelling? Are they still unique?

On Removing the Barriers:

  • Am I using social media in my recruiting? Is it effective?
  • Am I using text messaging effectively?
  • Do I have a Recruiting page on my website with testimonials and results?
  • What is the title on my business card? What does it say about me? What about my email signature?
  • What CRM am I using?
  • How is my time management and what can I delegate?

On the Value of Your Team

  • How much income do I receive per associate on the average?
  • What is my fixed annual overhead?
  • Divide annual fixed overhead by annual income per associates to determine how many agents to break even. (Include your salary in the overhead.)
  • Determine profit desired and add that amount in.
  • How many agents do I need to be profitable?

On Setting Your Goals

  • How many recruits for the year?
  • Divided by 12 for recruits hired monthly.
  • New verses experienced?
  • What will be the market share increase?
  • How many interviews for each one?
  • 2 experienced agents and 1 new per month is the goal.
  • How many interviews in each category do I need?
  • What action steps/ activities will I do to generate the number of interviews needed?

On Delegating What You Can’t Do or Don’t Want to Do:

  • Consider our Concierge Virtual Assistance Program which:
  • Set up and maintain email newsletter in Constant Contact with Profitable Recruiter Monday Morning News, as well as additional email campaigns
  • Send Lumpy Letters and Season Letters to recruits on your behalf
  • Manage your social media marketing
  • Manage your company blog

If you want more information on the Virtual Assistance Program, call Julie Escobar at 1.813.957.2989. If you’re ready to take your business to the next level with coaching, contact me at Judy@JudyLaDeur.com.

Watch the whole webinar on demand by logging into your account today and clicking on webinars on demand. It will be one on the last two webinars in the system. You’ll also find business planning for your agents on demand as well. On your membership homepage for October, you’ll also find a copy of both the agent and broker business planning templates.

Is recruiting a challenge for you?  We can help.  Join The Profitable Recruiter and gain access to 7+ hours of audio training via downloadable links, powerful recruiting letters and notes, emails, social media tips, over 30 webinars for recruiting and retention, and opportunities to network with the best of the best. Take advantage of our special offer and save 35% on YOUR New Membership with Promo Code: PLAN35.

Not sure if this is the right thing for your company?  Watch this video on demand to learn why brokers across the country are making it their turn to way to stay positioned for recruiting success in today’s market — and putting the fun back into their recruiting.  (Which is way better than dread – right?) We’re taking the guesswork out of recruiting for brokers — and they are loving it.  We can do the same for you! Questions?  Email us today.