Onboarding a new real estate agent is vital in expanding your business network, sales performance and team in the real estate market. However, this process takes a lot of training to familiarise the new realtor with the company’s business model. Most new realtors tend to stay in an agency for a prolonged time if their onboarding experience is really smooth and educative. In addition, contribute to and develop their real estate career. Therefore, as an agency, your priority is to have a strong onboarding training and program that will help newbies in the real estate market blend quickly and professionally. Here is a step-to-step guide that can help you welcome a new real estate agent and get them started easily with other staffs member, as well as be focused and productive towards achieving the company’s sales target

Onboarding Materials (PDF)

•       Realtor Onboarding Package.
•       Onboarding RoadMap
•       Real estate agency and brokerage (3rd edition)
•       New agent guidebook
•       Real Estate Sales Success System Training Manual
•       Becoming a Skilled Real Estate Negotiator
•       Negotiation And Risk Management In The Real Estate Contracting Process
•       Real Estate Sale Strategies
•       Real Estate Marketing Plan
•       Secrets of a top real estate team

Training – existing and ongoing training

When training new real estate agents, the focus is to put them through the company operations style due to the fact that various real estate agencies and brokerage function differently in areas such as the use of different CRM software, generating and prospecting tools, and manner of approaching and engaging style with a prospect. For some real estate agencies, staff members and new agents are free to engage with the prospects as well as use scripts and other methods in whichever way they wish, provided they’re able to win sales and meet up with the minimum target. Existing and ongoing training for new agents and other staff members should encompass all they need to know about the company and their roles. Some of the training every real agent should be introduced from time to time include but are not limited to;

Negotiating skills · Qualifying a lead. · Buyer-broker agreements · Lead generation and conversion techniques · Closing techniques · CRM, MLS, and CMA training. · Creative sales webinars and seminars · Mentorship and Consultation · Customer-focused marketing strategies · Negotiate Contracts & Counter Offers · Listing presentation · Networking · Scoreboards, tracking, and reporting training · Contract and disclosure training · Prospect contact and lead followup · Role play and script practice

However, while undergoing these pieces of training, we suggest that new real estate agents shadow expert real estate agents when performing their duties in order to enhance their understanding and knowledge of the industry. Also, this will help them be capable of performing their roles independently and have more insight into the real estate market.

Measuring Progress – Reports & Key Performance Metrics

The performance of an agent is determined based on various factors in the real estate business. These factors help real estate agencies know which agent contributes significantly to the company’s progress, profits, and sales performance and also identify those who need extra training and mentorship and the areas that need more improvement and development.

1. Contact made – This is used to know the number of leads generated by an agent within a given timeline via phone. For agencies that provide agents with a benchmark of prospecting calls, it will also help them keep track of the required amount of contact agents make that may generate leads.

2. Database size – The database of an agent can be used to know their performance scale so far. It helps provide information regarding the number of successful contacts gained and how well they have executed and generated sales. If an agent has a low database growth, that signifies that the agent needs more developmental training in order to improve their sales performance.

3. Average commission per salesperson – This metric is used to know the average profit a real estate agent makes after closing a deal with a prospect. The value generated can be used to determine the agent performance with a specific duration. It can also be used for futuristic planning in a real estate agency.

4. Advertising rate per realtor – This metric is used to determine the number of properties listed by a specific agent for prospective buyers to see. It is a key factor in real estate marketing and real estate agency. It helps show the effort and time dedicated by the agent to generate potential leads for the company.

5. Sold property per available inventory ratio – This shows the number of properties an agent sold out of the total property listing in the market and their ability to increase sales per available inventory over time. It can be determined by dividing the total number of properties sold by the total available inventory over time.

6. Duration of property on the market – The lesser time a property spends on the real estate market, the quicker the turnover rate and profit generated. It can be used to know how fast an agent decreases the number of days a property spends on the market and the agent’s sales performance speed.

7. Client feedback rating – The feedback rating from various clients about a particular agent shows the agent’s customer service quality. It shows the agent’s communication skills and professional interaction with clients.