Your plan should be flexible enough to pivot as the industry evolves and cater to the needs of your agents.<\/p>\n\n\n\n
Insufficient agent training and support are partly to blame for the attrition rate in real estate, says April Harrington, broker-owner at EXIT Real Estate Experts in Old Hickory, Tenn. That\u2019s why it\u2019s essential to finetune your educational offerings. Along with differentiating your brokerage, top notch training will facilitate your agents\u2019\u2014and firm\u2019s\u2014success. Here\u2019s the lowdown on what, when and how to teach your team.<\/p>\n\n\n\n
Sure, your agents learned the basics while getting their real estate license, but their training really doesn\u2019t begin until their in the field. Along with the obvious\u2014helping them navigate challenges like difficult negotiations, contracts and fair housing regulations\u2014here\u2019s the type of content to provide to help them further their careers. <\/p>\n\n\n\n
To help agents hit the ground running, EXIT Real Estate Experts offers a four-week \u201cMasters\u201d program on a quarterly basis. A \u201cbridge between real estate school and the practical application of this job,\u201d as Harrington describes it, the program consists of about 10 real-time Zoom and in-person classes. Topics include everything from business planning, time-blocking and taxes to working with buyers and sellers\u2014things all agents need to know to succeed in the business. <\/p>\n\n\n\n
Each time they\u2019re about to run the program, Harrington and her broker colleagues review and update the materials. \u201cThere are always new ideas and rule changes,\u201d she says. \u201cThe program evolves with us.\u201d Along with tweaking lessons, they take turns teaching specific classes, since each of them offers a different perspective on the material. \u201cIf you took my buyers class last time, my managing broker might teach it this time,\u201d she says. As a result, many of her agents repeat the program several times, because the refreshed content adds valuable context for them.<\/p>\n\n\n\n
Agents want to learn about more than buying and selling residential real estate, says Harrington. To help them expand their knowledge, EXIT Real Estate Experts offers monthly courses on topics like property management and investment properties. They also offer ongoing courses that evolve with technology, helping agents manage their CRM, social media and more. An in-person tech meet-up, gives agents the opportunity to bring their devices and ask questions.<\/p>\n\n\n\n
What agents don\u2019t want is to be overloaded with information before they need it, points out Tali Berzak, an associate broker with The Berzak Metcalf Team at Compass in New York, NY. That\u2019s why she waits for the appropriate moment in an agent\u2019s career before teaching them skills like assembling a package for a condo or co-op board.<\/p>\n\n\n\n
\u201cDon\u2019t just focus on what an agent needs\u2014they\u2019re a whole human,\u201d says Harrington. To round out its educational offerings, EXIT Real Estate Experts offers a \u201cPivot Your Mindset\u201d class monthly. Instead of focusing on real estate, these sessions center around \u201chow to live in abundance and joy.\u201d Typically taught by a life coach, they explore psychological topics, such as personality profiles, affirmations and an abundance mindset. <\/p>\n\n\n\n
Agents who\u2019ve taken the EXIT Real Estate Experts\u2019 \u201cChampion\u201d accountability series progress particularly quickly in their careers, notes Harrington. The most recent graduate reaped two buyer clients, one renter client and a listing by the end of the series. The 13-week program is offered to two agents at a time because it is so time intensive and hands-on for Harrington and her broker colleagues. Agents show interes by filling out an application. <\/p>\n\n\n\n
As far as the ideal time of day for training, there\u2019s no universal rule. After all, while some agents are larks, others are night owls. What\u2019s most important is sprinkling in opportunities for learning at the right points in their careers. <\/p>\n\n\n\n
Training is a great recruitment tool, and when you offer it to prospective agents, you\u2019re not only setting them up for success, but you\u2019re showing them you\u2019re invested in their development. <\/p>\n\n\n\n
EXIT Real Estate Experts invites agents interested in working there to complete the Masters curriculum during real estate school. As a result, they\u2019re up to speed by their first workday. \u201cBy then, training is mostly a matter of practice and handholding,\u201d Harrington notes.<\/p>\n\n\n\n
Often, information won\u2019t register with new agents until they can apply what they\u2019ve learned, says Berzak. That\u2019s why she prefers pushing them into the field early, rather than waiting until after a formal training is completed. \u201cIt\u2019s much better if they come back to me with questions versus me just telling them information. The only way they\u2019ll learn is if they do it.\u201d<\/p>\n\n\n\n
Instead of \u201ctraining,\u201d which she finds overly structured, Berzak observes her agents to see where they\u2019re struggling. Then, while meeting with them one-on-one, she\u2019ll offer guidance. Sometimes, she\u2019ll provide constructive feedback. Other times, she\u2019ll work with them to cultivate a new skill, like negotiations or presentations.<\/p>\n\n\n\n
Your agents will differ in terms of how they learn best. So, when devising a training plan, first ask yourself which types of training you would have preferred in their position. Then combine that overall empathetic approach with what you feel would work best for each agent\u2019s personality and goals. <\/p>\n\n\n\n
To help agents grow, work with them on individualized learning development plans in a one-on-one setting, counsels Ruth Gotian, Ed.D, chief learning officer and associate professor of education in anesthesiology at Weill Cornell Medicine. Start with where they are and where they want to go, she suggests. Then, reverse-engineer that path, determining which skills they need to learn to get there and how they\u2019ll acquire them.<\/p>\n\n\n\n
\u201cYou can\u2019t lecture for four hours\u2014people need breaks,\u201d says Gotian. She advocates teaching for about 15 minutes, then segueing to unstructured time. During this period, agents can take breaks and work on group projects to apply information. \u201cThey can learn from each other because there will be a diversity of perspectives,\u201d she adds. <\/p>\n\n\n\n
\u201cBe considerate of part- and full-time agents, urges Harrington. It\u2019s also important to acknowledge that not all agents will be available at the same time, and if your brokerage serves a large area, your agents are likely to be spread out. That\u2019s why EXIT Real Estate Experts Masters classes are held on weeknights and Saturdays. Any off-site classes are conducted in centrally located areas with ample parking, and in-person sessions are catered. Schedule courses around brunch, lunch, or dinner, she suggests. <\/p>\n\n\n\n
Everyone learns and processes information differently, says Gotian. \u201cSo having one solution will not work. If you lecture, you\u2019ll probably lose 70% of the people.\u201d To ensure you maximize the effectiveness of your training offeringst, she suggests a mix: for instance, a lecture, online course, selection of articles, podcast and webinar. \u201cEveryone will gravitate towards something different, so this way, there\u2019s a higher likelihood you\u2019ll reach people.\u201d<\/p>\n\n\n\n
National Association of REALTORS\u00ae
Reprinted with permission<\/p>\n","protected":false},"excerpt":{"rendered":"
Your plan should be flexible enough to pivot as the industry evolves and cater to the needs of your agents. Insufficient agent training and support are partly to blame for the attrition rate in real estate, says April Harrington, broker-owner at EXIT Real Estate Experts in Old Hickory, Tenn. That\u2019s why it\u2019s essential to finetune … <\/p>\n