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We are a small independent, family run company with 2 office locations. We have a handful of agents, none of them have ever worked for other agencies. We have problems with some of our agents just abandoning signs at properties when listings sell or go out of list. We also have all sorts of floor-time drama. I'm sure we have problems most companies have - poorly filled out info sheets, incomplete photos, part-time agents not returning calls promptly. Other commitments getting in the way of the type of dedications the job requires. It's frustrating from a management stand point. I was wondering how other agencies handle these issues?
My wife and I are REMAX agents. We buy our own signs and at about $50 each I make sure I know where they all are. Floor duty is determined by the office manager. She makes out a roster and it is easy to swap . All the agents who want it can participate. Some don't. We didn't last month because we were too busy. Never heard anyone complain. If you want more it is not hard to get somebody to give up thiers. Our office is not cut-throat. We all run our own business and still help each other.
We are a small independent, family run company with 2 office locations. We have a handful of agents, none of them have ever worked for other agencies. We have problems with some of our agents just abandoning signs at properties when listings sell or go out of list. We also have all sorts of floor-time drama. I'm sure we have problems most companies have - poorly filled out info sheets, incomplete photos, part-time agents not returning calls promptly. Other commitments getting in the way of the type of dedications the job requires. It's frustrating from a management stand point. I was wondering how other agencies handle these issues?
It all starts at the top. You have a significant leadership problem.
Expectations poorly set and poorly supervised.
If management is too busy either selling houses or playing bridge to manage the business, the business plan of having undirected agents is not viable.
Get a significant sign deposit, enough to make it profitable to go out and pick up the sign. Or, set up a lease system for signs, that will be profitable if the sign is not returned. Or, sell the signs to the agents. Or, let them buy approved signs on their own dime. The last is how it is handled in my office. Works for me.
Dump the PT agents, if they cannot fit reasonable performance into their busy schedules.
My office doesn't force floor time. Actually, we don't do floor time at all. So, I don't know about the drama.
Have them pay for the signs and that problem totally disappears. Ditto locks. If you are charging a lot for monthly fees, reduce accordingly. If you aren't, then they are spoiled.
Property time is handled by letting them fill in their "fair share" of times. If they want more, they have to wait until all have signed in to see what's left. Not everyone wants it (I don't). Whoever signed up has the responsibilty to cover it, either with themselves or someone else. If they leave it hanging and don't show up - ban them for a specific period of time.
A lot of companies don't take the part-timers because of the slow response time that reflects badly on the company. Not sure what to tell you - possibly you could make them have a full-time "partner" that will handle their calls for some sort of pay-back (hosting Open Houses?).
What are info sheets?
Like an old partner used to say"This is real estate for adults" whenever a newbie would complain when no one reminded them of a meeting, etc.
Incomplete photos are easy here - the MLS will fine the listing agent - it's not a company issue. I don't know if you have that set-up. You may have to levy those fines yourself. Note: the MLS gives us about 5 days to correct.
Sounds like I hear an office meeting in your future! Expect lots of b**ching!
I agree with Mike that it's a management leadership problem. No expectations are set or enforced.
We have 8 branch offices and over 300 agents. Each branch has an admin that orders signs up or down as listings sell or expire so that's not much of an issue. We do lose directional arrows all sorts of ways but I chalk that up as a cost of business.
Floor time is optional. The agents that want it sign up and they are rotated through by alphabetical order. If agents fail to show up for floor duty they are dropped from the rotation. If the agent can't make it they are responsible for getting someone to cover. It's the fairest way. Our top agents don't take floor time because they are too busy. I personally don't take floor time because I think it's a huge waste of my time.
Poor photos, poorly filled out paperwork, and poor response time are again management issues. If the failure is despite the management teaching the agents then those agents should be fired. If the management is teaching them then management should be fired. Either way, management is at fault for failing to teach or failing to fire.
It is hard to fly with the eagles when you are surrounded by turkeys.....
Love That! Would it be inappropriate for me to print that on a banner and hang it over my desk?
I really think our agents are spoiled. I probably should have mentioned that we work on a version of a 50/50 split (for in house deals the agent that brings the Buyer gets 30% of the total commission, the Listing agent gets 20% the office keeps 50% and then it escalates based on an agents yearly production). Agents only pay for postage and MLS dues (actually the borrow MLS dues and never pay them back). The office pays for everything and does all of the marketing. My parents/the current owners end up doing a crazy amount of the grunt work as well, hanging signs, re-shooting photos. No amount of nagging motivates our agents. There is simply no threat of firing, at least not until my folks retire. It's really hard to find remotely effective help up here in the mountains. Most of the people up here have horrible work ethics. Our Buyers are Tourists so floor time is really our life blood, Agents don't have to market themselves at all they just wait for the phone to ring. Do you think part of the problem is our commission structure? I am somewhat of a managing broker in training so any advice is greatly appreciated!
Love That! Would it be inappropriate for me to print that on a banner and hang it over my desk?
I really think our agents are spoiled. I probably should have mentioned that we work on a version of a 50/50 split (for in house deals the agent that brings the Buyer gets 30% of the total commission, the Listing agent gets 20% the office keeps 50% and then it escalates based on an agents yearly production). Agents only pay for postage and MLS dues (actually the borrow MLS dues and never pay them back). The office pays for everything and does all of the marketing. My parents/the current owners end up doing a crazy amount of the grunt work as well, hanging signs, re-shooting photos. No amount of nagging motivates our agents. There is simply no threat of firing, at least not until my folks retire. It's really hard to find remotely effective help up here in the mountains. Most of the people up here have horrible work ethics. Our Buyers are Tourists so floor time is really our life blood, Agents don't have to market themselves at all they just wait for the phone to ring. Do you think part of the problem is our commission structure? I am somewhat of a managing broker in training so any advice is greatly appreciated!
Your commission structure doesn't seem very enticing to me as an agent. I stand by my original comments.
It is hard to fly with the eagles when you are surrounded by turkeys.....
Quote:
Originally Posted by hmtklein
Love That! Would it be inappropriate for me to print that on a banner and hang it over my desk?
I really think our agents are spoiled. ..... I am somewhat of a managing broker in training so any advice is greatly appreciated!
If you are going to run the place, you need to both take the high road and claim the high ground. It would not be appropriate to have such a plaque.
If you are going to manage the firm at some point, I would suggest ditching the "eagle-turkey," "spoiled" water cooler talk, and just talk turkey.
If you are going to have to live with people you cannot can and cannot reorient, you need to be recruiting their replacements while you ease them into immateriality.
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
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I've got a similar setup in my mountain community. Unlike big city real estate firms where I imagine adding agents to the roster is as simple as having a phone number, there aren't any licensed warm bodies around to replace or augment my agents now. Nor would I want someone around just because they are breathing and licensed.
As for signs, may I suggest that if someone doesn't bring one back after a listing expires, you just deduct the cost of the sign from their next closing or if it sells, don't pay them until the sign returns. Personally, I love it when my agents don't show up for floor time as I get to have the opportunity to serve anyone that calls, walks in, or sends an email to us. (I don't compete with the agents otherwise).
I'm guessing that since you are sort of "inheriting" the business from your parents, you may be reluctant to discipline your agents, but when the first one's complacency costs you money, I can assure you that you will be able to crack the whip fairly easily.
Last edited by DMenscha; 12-09-2010 at 03:20 PM..
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