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For all you newbie sales people, treat every sale like your last. Sock your money away until you have at least a years income to fall back on. Look at your income on a yearly basis, not a weekly paycheck kind of mentality.
I'm sitting here thinking about my newbie salesgirl (of 1 year)who was making noises today about quitting. Sales are slow right now and she's ready to jump ship.
She had a good year last year(her first year) but I've learned if it slows up she can't handle it and wants to quit.
Trying my best to keep this short, I'm pretty put out that she was talking about quitting today and after lots of thinking, my bottomline is just quit then.
I've handed buyers over, paid all the advertising and all expenses except her gas. She started with nothing and I bent over backwards to get her leads to get her buyers. I think it came so easy for her to start, now that we're in a slower time she's all ready to bail. I put my ass on the line to hire her to start with as I wasn't so sure I had enough customers to support 2 sales people but I gave it a shot anyway.
A single mom here, and I know what I've been through to stay in this business and I put everything on the line to open a brokerage. Opened my doors and said, come on! I'll share my spoils with you!
Just from experience of hard knocks, she's not paid one due I've ever had to pay to get her where she is now. She had a really good year last year net $$.
Of course when it comes too easy to start, you don't appreciate it for what it is and ready to quit during a slow spell.
I bought land closer to her home to open office #2. so she would not have to travel so far.
With sales slower, I've put that on hold as if office #1 folds there's no office #2. I would have to agree to another franchise agreement to open it. Now that I see she's willing to quit so easily, I'm really not going to open an office there counting on her. It's not like I can just shut it down as easily as I can open it!
Just venting and sore. Thanks for listening if you actually read this.
keeperk.
I read it Keeperk. I understand that is definitely does not sound like she has appreciated all your hard work to help her. Let her go if she wants to go, otherwise she will probably not be productive. Good Luck, LIz
She definately is not appreciative of what you have done. She should have had a few months working at a brokerage where no leads or advertising was given to her. Then, she could see what it's like in the real world.
Sometimes, you can do too much for someone and it backfires. I say let her go and find another hardworking person like yourself to help out.
Well, part of this is your fault for being "surprised" she's jumping ship. Since the slowdown has been happening for quite awhile, you should've known in the interview stage what her intentions would be if things started getting very slow.
It should've been made clear to her that things would most likely get extremely slow and her paycheck would reflect that. Was she given ample time to think this through? Were you thouroughly convinced that she wouldn't jump ship?
It may also be a wise decision and sit down and try and talk her through this. Lots of Realtors are had their worst year last year in the business, and lots had their best year in the business last year...the difference is how they think and what they do.
Real Estate was sooooo easy for a while that you really had to be completely brain dead to not be able to make a decent living...but not anymore. I don't think I'm surprising anyone by saying this, but it's important to say, because when the market changes we have to do business differently and most people don't.
Maybe you need to sit her down and go over the basics with her. You know...prospecting for buyers and sellers, client development, relationship development that way she can build a referral network that will feed her and your brokerage long past this low spot in the market.
We've seen a few agents become part timers as they've gone out and get full time jobs to cover their cost of living and it's a shame. My immediate instinct was "Awesome, more deals for me!" but after sitting back and thinking about it it's actually a large loss because the more business the office does, the more the office phone rings, the more business EVERYONE gets. It's a shame, but it's mainly due to a lack of someone pushing them to do do the right activities that will ultimately bring in a lead in the end.
I am not a realtor but just thought I'd give my little opinion. It sounds like you were a very good mentor to her and you should be proud of that. I think part of mentoring is to be able to lead a person to do their best, now you feel you have done that but it also means to lead them when it gets tough too. It sounds like she is also young. Maybe she needs to be reminded that being loyal is quite a virtue and for all the time you invested in mentoring her she should be able to stick it out w/you a little longer so you BOTH feel you each have gained. Maybe on the next deal, don't help her at all and see if she has learned anything from you, and she can get that empowerment that she can do it despite the slow market. Good luck!
It's sounds to me like she may not be a great loss, if she goes.
So many people get into this business assuming they will be handed leads and it's easy. And for awhile there, in so many markets, it was easy. When they realize they are responsible for their own business, many become disenchanted and hang up their licenses. This happens everywhere, in good and not so good markets.
I am betting there is someone more seasoned in your area that would be delighted to take her place and work in a small shop.
Gosh, what a shame. One thing for sure, glad you found out that she's feeling uncertain now before you opened that second office. Yeah, you bought the land, but you might just need that later on.
Was she really serious or just sort of letting off steam? Is she thinking about quitting real estate altogether or going into a different aspect of real estate (commercial, residential, etc.)?
With things slowing up as you say, is there enough business for both of you? I mean, could this be a bit of a Godsend because there's not enough of the pie for both of you anyway?
Any chance that you could make it on your own with a top notch, part-time administrative assistant to handle admin./legal things in the office in the meantime?
Oh, I'm just yippity yapping.
I hope you'll hang in there and bounce back stronger than before. You seem to be a real trooper and tenacious as I don't know what. You're like a bulldog with a bone.
PS: Have your boyfriend take you some place fabulous for Valentine's Day, so you can have a little fun.
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
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I also have an agent that has just over 1 years experience. She ended up being the top salesperson in 2007. Over the past several months she has seemed to lose her enthusiasm and tends to want to play games online versus do the work that needs to be done.
I sent an email to all of my agents explaining floor time and in the middle of it, I suggested that when you're on the floor it might be a good idea to do something real estate related! She's become a little bit better since I sent that out and she seems to have generated a bit more enthusiasm as well. I also suggested that being in the office is a bit like being in the fire service. You never know when the alarm will sound and when it does, it's too late to do the training.
As much as anything, I'd say a slow period tests all of us, I don't feel like managing that much when there's not as much to manage either, but I do what I need to do, because putting one foot in front of the other is the way a journey of a 1000 miles happens.
Wow, you've done a lot for her. Not too many opportunities like that around. She doesn't seem to know she has a good thing going for her. I'm guessing it's her age/experience that is not allowing her to see that.
You've done for her what some people do for their daughter/children etc...
I would have a long talk with her, pointing out the things you've done to help her and hopefully keep her with you to grow and prosper. These are slow times, if you can make it through this, then you'll make it through anything, etc...
If she accepts that, great. If noty, then she just may not be what you've hoped for, and I agree there ARE hard working people out there that would love this opportunity you've given her.
Good luck.
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