RISMedia's Real Estate Magazine

OCT 2018

Real Estate magazine is the industry's leading source for real estate news and information since 1980. Published monthly by RISMedia, Real Estate magazine offers timely and relevant real estate news to the industry's top brokers and agents.

Issue link: http://remag.rismedia.com/i/1032371

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Page 22 of 134

18 October 2018 RISMedia's REAL ESTATE {REBAC Report} Among the many topics discussed, two critical and overlapping challeng- es caught my attention. How do brokers: 1. Help their agents be more productive? 2. Create incentives for agents to stick around? From my perspective, brokers can tackle both agent productivity and re- tention with one not-so-secret weap- on: training. Many of the leaders in attendance at the CEO Exchange shared this view. It's an approach that produces win-win results. IDENTIFYING GAPS Typically, the first step is determin- ing skill gaps. Beyond the initial onboarding process of introducing new agents to office forms and pro- cedures, you want to assess how an agent shines—and what skills may need extra attention. Evaluating an agent's strengths and weaknesses, however, isn't limit- ed to your newest talent. In fact, sea- soned agents may be tempted to as- sume an "I've got this" attitude and be more vulnerable to blind spots. PRIORITIES Brokers typically have three top pri- orities: selling skills, industry knowl- edge and technology proficiency. During a new agent interview, for example, your thoughts might run along one of these lines: She has a great sales background but isn't very tech-savvy. He's brilliant about technology but lacks knowledge about the real estate industry. She understands real estate but doesn't have much hands-on sales experience. While sales, technology and real estate skills may be at the top of the list, brokers may also need to fill oth - er gaps, such as adding a dedicated buyer's agent to a team or boosting your brokerage's presence in a par- ticular niche market. CHOOSING THE BEST TRAINING TOOLS For training to generate meaning- ful and measurable results, it must deliver more than valuable informa- tion. Best-in-class education also compels agents to internalize new concepts and adopt new behaviors. While change is essential, don't expect overnight miracles. Look for programs that include follow-up com- ponents that will help reinforce new skills. RETENTION FACTORS The best training programs help agents be more effective by learning, employing and retaining new and valuable knowledge. Training also helps brokers retain agents by dem - onstrating their long-term commit- ment to the success of their agent roster. SUPPORT FROM NAR For decades, the National Asso- ciation of REALTORS® (NAR) has encouraged agents to pursue con- tinuing education in various ways. NAR's designation and certification programs are designed to help mem- bers build competence in numerous specialized areas. I'm also eagerly anticipating the debut of NAR's new Commitment to Excellence (C2EX) program, in con- junction with the annual REALTORS® Conference & Expo this November. C2EX is a revolutionary initiative that'll help REALTORS® identify and close their personal skills gaps, bringing a higher standard of profes- sionalism to the industry and the best possible service to consumers. It's also an exceptional tool for bro- kers, greatly simplifying the process of identifying gaps and supplying vital agent training. RE Marc D. Gould is senior vice president of Member De- velopment for NAR, overseeing a wide range of profes- sional development programs for REALTORS®, including the Real Estate Buyer's Agent Council (REBAC). REBAC is the world's largest association of real estate profes- sionals focusing specifically on representing the real estate buyer. With more than 30,000 active members, REBAC awards the Accredited Buyer's Representative (ABR®) designation to REALTORS® who have completed the special- ized education and documented experience in working with consumers purchasing a home. To learn more, visit REBAC.net. Brokers' Not-So-Secret Weapon by Marc D. Gould I recently had the opportunity to participate as a panelist at RISMedia's CEO Exchange, one of the best venues for hearing the thoughts and concerns of 200-plus real estate industry leaders.

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