Adding agents to your brokerage can benefit your business, but only if you give them the foundation to succeed. Here’s how to help your new agents thrive.
Help Agents Come up with a Business Plan
A good business plan includes points on branding, marketing, finding leads, and generating revenue. By assisting your new agents with their business plans, you can make sure their direction and goals align with those of your brokerage.
Bonus tip: Need some ideas about writing a business plan? Read this Texas REALTOR® magazine cover story.
Once you’ve chosen the right agents, your next priority should be training them. Decide if you will offer in-house training, require new agents to shadow experienced agents, or require agents to earn certain designations. Put whatever your training plans are in your firm’s policies and procedures manual.
Bonus tip: Need to update your policies and procedures manual? The Texas REALTORS® Model Brokerage Policies and Procedures Manual is available to members for $99.99 plus tax. It gives brokerages instant compliance with TREC requirements to maintain written policies and procedures and provides a ready-to-use set of principles for managing your business.
Set the Right Expectations
An often cited reason new agents fail or drop out of the industry is because they have unrealistic job expectations and don’t understand how to work as an independent contractor. While many agents enter the business because of the autonomy, they still need guidance on time management, lead generation, and hands-on experience with a seasoned mentor.
Bonus tip: The Graduate, REALTOR® Institute designation is a good way for agents to get immersed in the industry and learn about current legal issues, technology, and best practices. Learn more at texasrealestate.com.