Are you running sales contests with your teams and brokerages?

If not, you're missing a big opportunity. Sales contests can generate energy and excitement, which drives performance. But there’s a right way and a wrong way to do a sales contest.

Here’s the wrong way: focusing the contest on results.

You might wonder, what else would you focus on?

Well, if you're tracking things like how many escrows were created or how many listings were taken, the same people will win every time. The problem with focusing on results is that you can’t control them.

What you can control is the work. So, instead of focusing on results, shift the focus to what actually creates results—the work itself.

For example, you might say, "We’re doing a contest this month on who adds the most people to their sphere of influence." Or, "Who can do five posts a week for the next four weeks?"

You could track how many unsolicited CMAs agents push out in three weeks, who does the most open...

If you're coaching agents as part of your real estate brokerage or team, which we all do, one of the best methods I’ve learned is the 1-3-1 Method.

When someone brings you a problem, start by asking:

First, let's clarify the problem: What’s the one main issue we’re dealing with here?

Not 55 different things—just the one big issue we need to solve.

Then, ask: What do you think are three viable solutions for solving this?

If they can’t come up with three, help them brainstorm.

Finally, have them choose: Which do you think is the most viable option for actually getting this resolved?

Encourage them to go out, try it, and see how it works.

As a leader, whether you're a team leader or a brokerage owner, make a note in your CRM to follow up with that agent in a day or two. Check if the resolution actually solved the problem. Sometimes they'll come back and tell you, but if they don’t, reach out and ask, "Did that solve the issue?"

By using the 1-3-1...

If you're a brokerage owner or team leader, what's the number one reason someone would join your firm?

Often, when I talk to brokerage leaders, they say it’s all about commissions—that’s the driving factor.

But that’s not true. We need to move away from that outdated thinking.

What really drives agents to join a company or team is the potential to close more transactions.

It’s about transaction count, not commissions.

So, how do you build a company or team that focuses on generating leads and helping agents develop leads on their own? Your goal should be to increase each agent’s transaction count, making them one of the highest-performing in your market area.

Here’s an interesting statistic that might surprise you: 50% of all agents in America closed one deal or less last year.

Even if those agents are getting a high commission on that one deal, it’s not enough to support their families. They’re struggling and barely staying in...

Hey guys, as a team leader or brokerage owner, there's one key metric that defines your success:

Per agent productivity.

This metric encompasses every aspect of your role as a brokerage leader. It includes your recruiting plan, retention plan, marketing, branding, technology, training, coaching, mentoring, staffing, and location.

Essentially, everything you do at your brokerage is reflected in what your agents produce on a per-agent basis.

When I come to you and say, "Let's open up the hood of your company," we'll look at the average agent production over the last 12 months. What does it look like? If your average agent is closing six deals, seven deals, eight deals, three deals—whatever the number is—you'll have a starting point.

Our goal is to raise that number over time. The higher we push that number, the more likely you are to attract more agents to your business.

The number one way to attract agents is by demonstrating that your system drives higher sales than your...

The Art of Leadership: How to Effectively Manage a Real Estate Brokerage and Thrive in a Competitive Market

 Introduction to leadership in the real estate industry

As someone who has built successful real estate companies, I have learned that effective leadership is the key to building an amazing company culture. The role of a brokerage manager is not only to oversee daily operations (that’s the easy part) but also to inspire and guide a team of real estate agents towards success. In this article, I will share my insights into the art of leadership and how it can help you manage your brokerage effectively and thrive in a competitive market.

The role of a real estate brokerage manager

The role of a real estate brokerage manager goes beyond just managing transactions and paperwork – that’s what we call in the industry a ‘deal doctor’. Deal doctors are a dime a dozen.  A successful manager is someone who can provide...

Do you want to be a better recruiter?

As a seasoned recruiter with over 30 years of experience, I can tell you the secret to successful recruiting is this:

Recruiting is like owning an NFL or NBA team.

You need to understand that recruiting is all about building relationships with people. People join people, not companies or brands. If they don't like you, they won't come to work for you.

So, first and foremost, you need to establish a career-long relationship with people in the marketplace.

To build these relationships, you need to have conversations with potential recruits. Top recruiters in the NBA, NFL, and NHL are cold-calling and creating connections with people. They're showing them the organization's value, passion, and vision of how they can help them win. Ultimately, people want to be with a winning team and need to see how you can help them make more money and make their life easier.

It's not all about commission...