11

Regional Owners Meeting 007

Windermere Services

Oregon / SW Washington

w

22

Recruiting and Retention and Productivity

8:45 – 9:30 Agent Types

recruiting by type- attractors / exercise - do I have a plan / doing the math – who and how many

why Windermere

BREAK

9:45 – 10 :15 Windermere “Accountability Program” Randy Stephens

10:15 – 10:45 Roundtable “Best ideas”

Facilitator / Spokesman (3-5 best ideas)

Best Idea

BREAK

10:50 – 11:30 Interviewing Agents and Managers

Vital Few Daily, Weekly, Monthly, Sales Meeting

3

Vital few20% of the effort produces 80% of the results

Trivial many80% of our efforts gets 20% of results

Trivial mandatoryStuff /delegate

4

Why Windermere ?

Could you demonstrate ….

BrandingCultureToolsTrainingFacility

55

Real Estate Sales

Vision – Prospect – Presentations – Obtain listings and sales

New Construction Homes (Volume)Resale Homes

Recruiting Real Estate Agents

Vision – Prospect – Presentations – Obtain Agents for the office

New Licensees (Volume)Experienced

Recruiting

Recruiting Worksheet - rate yourself

6

Recruiting

Not all people are good at all things

Concept (have one or adapt one)

Communication (leadership)

Implementation (managing)

All three need to be satisfied

lead your office (concept, communication, implementation)

manage the skills (who, what, when, where, how)

77

Vision and Retention“It should be easier to keep an Agent than find a new one”

Regular agreement on the office vision and expectations

With all Agents / Staff / Owners (twice yearly sales meeting and one on one)

Must gain UAS about shared visions or goalsAvoid edicts, but all should be accountable to commitments (in particular staff)Meet with New Licensees more often than experienced (track your accountability meetings)

Two lunches per week (Office agents, experienced recruit, vendors, competitors) with FORD questions

Agents, Staff, Managing Broker come together (beyond email ) to build culture

Office Meetings – Celebrations – Industry Events

Regular Contact / Sharing by the Managing Broker (beyond email)

Regular Contact / Sharing by the Office Agents

Ideas that have worked for you?

w

88

What if …

My staff manages all tasks in the office beyond leadership, recruiting, retention and legal emergencies?

1. How has my relationship with my agents changed? (good or bad) 2. How has my relationship with my staff changed? (good or bad)

3. Will the ability to spend more time with my agents and be in front of agent prospects excite me? Why / why not?

What if …

My office produced increased profits of 100% over last year?

4. How has my relationship with my agents changed? (good or bad)

5. How have my personal relationships changed due to the increased income? (good or bad)

6. How would I feel if … (Brian will finish the question after answers 1-5 are answered)

What if this was true today … or

The answer for #3 decided my success and income for the next 12 months

Office / Company Vision worksheet – what if

99

“We do not need every licensee”

“We need the licensee who fits our Full Service Model.”

Recruiting

w

1010

Not every Agent is attracted to the Full Service Model

15% of agents or consumers will be attracted to a Discount Model

or price ( and that’s OK! )

Office Model

1111

Discount to Consumer Model

Limited service model

Gain MLS access with lower fee to the Brokerage

Agent attracted by free leads

Lack of belief or understanding in Full Service Model (and that’s … ok)

Discount to the Agent Model

Limited service model

Attract Agents with limited services and technology for lower fee to the Brokerage

Attract Agents who are part time, low production or slowing at the end of their career

Attract New Agents conscious of price only (and that’s … ok)

1212

New Licensee - Attractors (Need based)

“Who takes care of me and how do I get trained?”

Attracted to Brokerage filling their need for support (Manager) and training (15% attracted to price / 85% Full Service)

They don’t have a chance… but … they have a vision, and they live it until that first closing

Experienced Licensee – Attractors (Relationship based / Vision)

“I could work there” “I could never work there”

Attracted by your business model (full service 85% or discount 15%)

Attracted by your company culture

Attracted by your position in the market

Attracted by the relationship with the Managing Broker

Agent Attractors

1313

V. Doing the Mathwho is on the bus?

Who do I need to attract ?

Who do I need to replace ?

1414

Top Producer 15% Set the bar, culture and prestige, high maintenance

Core Brokers 55% Profit, synergy, supportive, low maintenance

New Licensees 10% Future, commitment to train, develop and hold accountable

Retiring/Slowing 10% Culture, support, mentors, legacy of office

Sales Prevention 10% Oops wrong career! move out quickly

w

Doing the Mathwho is on the bus?

1515

20% of the active agent population will retire or leave the businessannually through normal attrition

– because life happens

Looking ahead, who will I need to replace?

Top Producers Replace 20% (normal turnover)

Core Brokers Replace 20% (normal turnover)

New Licensees Replace 50% (50% up and 50% out)

Retiring or Slowing Replace 50% (fall out at higher rate, or home office)

Sales Prevention Agents Replace 100% (Most Managers miss this step)

w

Doing the Mathwho is on the bus?

1616

Groups of two or three at your tables

Follow the worksheet for office represented on the worksheet

How many recruits did you need?

What percentage of the office needed to be replaced?

Smallest offices may have either the lowest percentage or the highest

w

Doing the Mathwho is on the bus?

1717

Top Producer 15% replace 20% =

Core Brokers 55% replace 20% =

New Licensees 10% replace 50% =

Retiring/Slowing 10% replace 50% =

Sales Prevention 10% replace 100% =

Worksheet

1818

Top Producer 15% 7.5 Agents replace 20% = 1.5

Core Brokers 55% 28 Agents replace 20% = 3 (5.5 less 2.5 moving up from new)

New Licensees 10% 5 Agents replace 50% = 2.5

Retiring/Slowing 10% 5 Agents replace 50% = 2.5

Sales Prevention 10% 5 Agents replace 100% =5

Replaced 30% of population (15 Agents)

w

Who’s on the Bus?Typical 50 Agent

Office

1919

I matured my New Agent population

I hired 1.25 Agents per month to stay even

I needed to hire at least 4.5 experienced with the two I matured to stay even

I needed a total of 15 Agents hired to stay even, 5 of whom need to be experienced

Is it realistic that all 15 hires could be experienced agents year after year?

At a minimum 10 new licensee hires, 5 experienced agent hires

Most Brokerages would fall under this 70/30 Rule

w

Summary of Recruiting Needs

2020

New Licensee “Who takes care of me and how do I get trained?”

Perceive competitor to have superior training Perceive competitor to have superior support (Manager) and or facility/staff

Experienced Licensee “I could never work there”

Perceive competitor as stronger brandPerceive competitor has higher level of support, staff and facilityDevelop stronger professional relationship with competitors Managing Broker over timeAttracted by competitors office culture and Agents

Lose respect for or leave Managing Broker for cause (#1 reason)

Policy & Procedure can attract or repel (choices) “more freedom” at the competitorWe limit their personal marketing Easier to work as a “team” at the competitor

w

Why we lose a Prospective Agent cont…

2121

Experienced Licensee “I could never work there”

Must develop strong professional relationship with the Office Managing Broker

Regular personal contact using a select list or database (beyond mail or email)Regular Agent Contact by phone, at Industry events or training opportunities (you actually attend)

Tools; Phone, CMS, Custom Xpress, local board or association, MLS, training, Broker Opens etc….Two agent or vendor lunches per week

Must be attracted by your office culture and Agents

Must see support for and professionalism of AgentsShould be referred by your Agents, who understand, accept and support your vision of the office

Must perceive your Brokerage as the stronger brand

Share Windermere story with prospect one on one, when asked (must attract first)Vision lunch or conversation before presenting tools

Must perceive your Brokerage has a high or higher level of support, facility, staff

Have your Agents share or personally show benefits when asked (attract first)Goes back to the idea of having a shared visionCan your Agents talk features to benefits about Windermere?

w

ATTRACTING EXPERIENCED BROKERS

2222

Experienced

ARE YOU …

Touring selected Co-op Agent properties on a regular basisInvolved in MLS and local Board as OfficerTeaching CE courses to industrySeen by other Brokers as a resource as well as a competitorInvolved in Community outreach or planningDelegating “stuff”

Agent endorsement letters / callsBetty in our office can’t say enough good …….

Third Party IntroductionIntroduction from your existing Agents, when co-op agent visits them in the office

Transaction exit forms (must have UAS with agents to work)Your Agents rate prospects they have a transaction with

Personal notesEverybody loves themBottom right hand drawer

Thank you for the referral (good or bad)Be notorious and obvious with your praiseReward the referral not the quality of the lead

2323

Agents must perceive your Brokerage to have superior / great support (Manager)

Agents must perceive your Brokerage to have superior /great training

Agents must perceive your Brokerage to have superior / great facility / staff

Work on these items with fresh eyes

May need Manager/ Owner peer group

w

New Licensee “Who takes care of me and how do I get trained?”

24

New Licensees

Are you …

Mailing to eligible list

Mailing to pass list

Career Days

Pre-License Broker Nights

Using Online Education Windermere URL (WORC)

License Preparation Class

New Licensee Presentation

Prospect Tracking System

Established Training / Accountability

25

Windermere “Accountability Program” Randy Stephens – Windermere Services

Building synergy and productivity in your office

26

RoundtableFacilitator Spokesman (3-5 best ideas)

Your best recruiting idea

What are you doing to recruit agents

What are you currently doing to train agents

How have you changed the culture of your company over the last year

Do you focus on new or experienced agent recruiting and why

How has your facility or staff needed to change to go to the next level

27

Agent or Manager Interview

2828

Write down the questions you intend to ask

Otherwise you'll forget

Clear the meeting space

Except for those items you need for the interview, show you've prepared Show that you respect the situation and the interviewee.

You do not want the prospect to see confidential information that may be in your office

Your staff should greet the prospect by name

Introducing themselves prior to meeting you for the interview

Plan the environment - privacy, no interruptions, make sure the interviewee is taken care of while theywait

Put the prospect at ease

Greet them in the lobby or reception area and spend several minutes getting to know them, It's stressful for them, so don't make it any worse

After breaking the ice invite them to join you in the space prepared for the interview

Manager Interview 101

29

Arrange seating in an informal relaxed way

Don't interview In your personal office or sit behind a desk directly facing the interviewee

Sit around a coffee or meeting room table

Begin by explaining clearly and concisely the general details of your company and the role they are applying for

Ask open-ended questions

remember to start with w, w, w, w, w (what where, when, why and how)

Follow their answer with circular conversation to probe deeper (see next page)

High pressure causes people to clam up and rarely exposes hidden issues - calm, relaxed, gentle, clever questions are far more revealing

3030

Ask 25% FORD questions Ask F.O.R.D. questions and LISTEN for change (pain and pleasure)

Sales background or trainingPast Success and challenges in work - life Personal vision for real estate work -life

Follow with 50% Circular Conversation

W, w, w, w, (or what, where, when, why, and how)

1. Open ended question (or what, where, when, why, and how)2. Shut up !!!3. Repeat and affirm4. Open ended question (repeat as often as necessary)

Show 25%

Company/ Office VisionStaff SupportFacilities and EquipmentWindermere / Office Training (feature to Benefit)Windermere TechnologyProvide take away of features and benefits

Decide 25%

Are they willing to be held accountableTheir needs and can we provide itDo I want this character in my OfficeFollow-up (see handout)

w

3131

ASK - FOLLOW - SHOW - DECIDE

Sample Questions for Agent InterviewsRemember to use open ended questions w, w, w, w, w,

What do you know about our company? What draws you to selling real estate as a career? What are your strengths? How do you keep track of what you need to accomplish daily? How do you picture a successful real estate career What goals are you working on outside of work?

Experienced agents;

What do you like best about your current company? How would you change your current office for the better? What will your production look like this year and where do you see it going in the future? How have you built your business in the past? How do you perceive our culture at Windermere differing from the culture at your present

company? How would an agent in your office describe you and your business?

32

Sample Questions for Manager / Staff Candidate

Remember to use open ended questions w, w, w, w, w, what, where, when, why and howFollow with circular conversation

What do you know about our company?

What was your biggest challenge when you were selling Real Estate? How did you overcome that?

What attracted you to the management ranks?

How would you measure success when interviewing an agent for our company?

How do you grow/develop talent in a company such as ours?

How do you keep track of what you need to do daily?

What would your ideal boss or least ideal look like?

What would the culture of this office look like 5 years from now if you were the leader?

What role would our staff play in helping you lead this office/company?

Explain your approach to maintaining high standards or improving poor performance for our agents.

When do you feel you need to release an agent?

3333

Principal Broker Interview

Can I expect you will train me to develop a presentation if you don’t have one of your own?

Ask – Follow – Show (25%) - Decide

w

3434

Managing Broker InterviewFeatures to Benefits

w

PPT or Paper but never online

3535w

Managing Broker Interview 101

Windermere Tools70% of prospects will be visual learners

Foundation

Office Culture

WindermereWay

Facility

OfficeStaff

Photo Gallery

Premier Properties

Premier Living

Newspaper

Agent SitesListing Toolkit

Trend XMarket Share

CMA

CMS

Telephone

ManagingBroker

Visibility Plus

CustomX Press

Commission Access

Bridge Loans

401K

Institutional Advertising

E Mail Windermere.com

WORC

Pro Start

3636

AgentsandStaff

SkillsAnd

Training

Office Culture

MarketAdvantage

Systems

Office StructureWindermere

Story and Values

Managing Broker Interview 101

70% of prospects will be visual learners

37

Vital Few

20% of the people control 80% of the wealth

80% of the people control 20% of the wealth

38

Vital few20% of the effort produces 80% of the results

Trivial many80% of our efforts gets 20% of results

Trivial mandatoryStuff /delegate

3939

Vital FewDaily – Vital Few

Arrive at the office at a set time each day – discipline creates freedom

20-30 minutes of follow-up FORD calls with active prospects 3x per week (m/w/friday)

Send 2-5 notes – thank-you, congratulations, thinking of you (bottom right hand drawer, stamped)

Schedule daily sessions this week for paperwork cleanup, do not review paperwork outside schedule, delegate ASAP

Weekly – Vital Few

1 hour weekly planning meeting (on paper) with yourself. Begin with your Vision in mind

15-30 minute weekly Staff meeting Monday early in the day (review your coming week, sales meeting etc) F.O.R.D.

Two “Accountability Sessions” (not coaching) with newer Agents for this week

Two 15 minute “Experienced Agent Check-ins” for this week. Track history on paper/spreadsheet F.O.R.D.

Time to exercise or be alone for an hour each day ( not between 10am and 3pm)

Schedule 2 lunches or coffee this week with someone in the industry, but outside your office F.O.R.D.

Schedule 1 lunch or coffee this week with two someone's in your office (beware of one on one) F.O.R.D.

Monthly – Vital Few

Speak at Career Day or Teach Class for Prospective new licensees (organized by your staff)

Have the staff plan safe social activities with the branch 4x per year (non-competitive)

Sales Meetings

Assign Staff member responsibility for coordinating sales meeting, guests etc. (by the previous Friday)

Assign Staff to begin the meeting with office business and announcements

Always start on time, always end on time

Set date for Office / Company Vision or state of the office discussion once per quarter (replaces sales meeting)

Attend Property Tour while selectively recruiting

4141

Establish the Vision for your office

Office modelWhat is it, and where is the payoffLead people (agents and staff), Manage workBe bold and have fun Share with your prospects early and often for UASShare with your Agents early and often for UASShare with your Staff early and often for UAS

Establish Recruiting Needs for the coming year

Who is on the bus? 70 / 30 Rule of RecruitingHow many hires do you need this year?What is the mix of New and Experienced neededBe bold, Have fun, Share it with your Agents early and often for UAS Share it with your Staff early and often for UAS Make Agents and Staff part of the solution (don’t manage lead)

Establish Presentations for New and Experienced Licensees

Develop presentation and materials for New Licensee “Who takes care of me and how do I get trained?”

Establish culture, competence, communication to attract Experienced Agents “ I could work there” Hire in the process not afterSpend more time in front of agents, less behind your desk

Summary

4242

Principal Broker Interview

Ask Follow Show Decide

FORD questions Circular Communication Visuals Commit

Managing Broker - A day in the life

Develop your daily, weekly, monthly and sales meeting “vital few”

Discipline creates freedom, freedom alone creates chaos

Grow your Windermere Office / Company

Hire in the process, not after - asking for commitment while showing value

w

Summary cont ……

4343

Thank You

w