Always remember that the more real estate agents know, the more real estate agents earn. And, if you are a broker or team leader, the more your agents know and earn, the more you earn.
Here are some action steps you can take to help your new and returning agents launch and/or re-launch their careers under your umbrella:
- Suggest that your agents complete their post-licensing continuing education credits prior to the posted deadlines. Procrastination can be costly for your agents and for you.
- Suggest that your agents take an MLS class with your local Board or within your own firm if your firm offers MLS classes. Agents lead to learn MLS content directly from the source. Taking an MLS class will also help your agents learn how to do efficient and effective property research, comparative market analyses and property searches for potential buyers.
- Suggest that your agents take a class on contracts from your local REALTOR board and/or your own firm. Contracts change quickly (sometimes over night if one’s not paying attention) due to changing laws and regulations. Rookie mistakes can jeopardize rookie licenses.
- Suggest that your agents tour at least 10 houses in every price segment of your market so they can see and compare all that is available. Also key in your agents to all new construction projects and builders in the area.
- Suggest that your agents attend a buyer’s loan application meeting so they know first hand what is required to obtain a loan. Agents need to know how time frames, debt-to-income ratios and credit scores affect loan approval standing so they can help their clients prepare for this process.
- Suggest that your agents attend both buyer’s and seller’s closings so they know what to expect in each circumstance. Then suggest that your agents create and offer a buyer’s/seller’s net sheet to their clients. Clients appreciate net sheets and they appreciate agents who are competent enough and pro-active enough to both create and offer them such a useful tool. Such competency and pro-activity build agent-client trust.
- Always reinforce to and with your agents the fact that the real estate business is a relationship business. Obviously, the relationships your agents develop with their clients are crucially important. Other important relationships for your agents to create and develop are relationships with local builders and lenders…SBA lenders, VA lenders, FHA lenders, traditional 20%-down lenders, ARM lenders, jumbo lenders, 15-year lenders, etc.
This post was originally published by the National Association of REALTORS® Broker-to-Broker site in June 2019 and was highlighted in NAR’s recent Twitter feed in mid-October 2019. We have revised the original post to include Team Leaders into the crucial mix of collaborative mentorship.