Real Estate Brokers are constantly frustrated by poor production among their agents due to their agent’s lack of and outright refusal to prospect. Understanding the forces that influence agent prospecting and production is the key to improving agent performance and overall office profitability. In this video, we go into the reason behind this and steps you can take to help your agents.
Why won’t your agents prospect?
- Comfort level
- Confidence (training)
It really doesn’t matter the reason if they are not doing it. Only 10% of agents truly prospect. The most profitable offices do it for them.
You can’t train production. But you can help them gain confidence. Pizza and beer can help motivate. Dangle gift cards for those that meet a goal, do role playing. Have fun with it.
The most profitable offices make money through lead generation. If you want to increase production you must increase lead generation. Help your agents out with this. Lead management software can automate some of the more daunting tasks for your agent.
08:00 – Well, my agents just need to prospect more.
Have you heard that excuse? Unless you put a gun to their head, they’re not going to prospect. It’s just a fact. They need to understand between can’ts and won’ts to get through their block and to the other side. Don’t worry about it too much, don’t overthink this. FOCUS on understanding this and the reasoning behind this. Get over it, find the leads for them.
If you give an average agent a 100% split, most won’t do it. But, if I say, “here’s a brand new lead and you give me 30%” they’ll do it because of the the fear they have prospecting.