This is my 15th year in the real estate industry. During this second career, I have been a successful listing and sales agent and served as a sales manager, broker-manager, trainer and coach. During my early management days I used to think I could ”fix” people. I would hire 10 new agents to my office and just know that because my company had the best tools, training and support and that I cared and was a solid manger – I could get most of these new agents to be successful in the business. Here’s the reality – you can’t fix people. They are who they are! Each person comes with their own degree of self-confidence, personality traits, behaviors and success characteristics.
Now they all have the dream and wish to be successful in the real estate business. Success for many first year real estate agents is to earn $100,000. Whenever I teach a business plan class and ask how much money do you want to make this year, inevitably the response is $100,000. It is possible to earn this in your first year if you are willing to get out of your comfort zone and get in front of enough people who need your service – to buy or sell real estate. It also requires sales skill, inventory (market) knowledge, and technical expertise. This business requires constant, ongoing education and training. And, as always, experience is the best teacher.
So, why do so many fail in this business? Why are approximately 75% of agents out of the business within the first two years of being licensed?
I have been studying this issue for many years and have come to the following conclusions. Approximately 10-15% of the active agent population enjoys great success and are the highest income earners – the “Top Producers”. I have found that this group of people exhibit common characteristics that I believe lead to this ultimate business success.
At Prudential Americana Group, we have identified three major types of individuals who, once identified, fit into our model. Our credo is that we fit people; we don’t try to fix them.
To better understand the three types let's take a look at the following factors for each group: Risk vs. Security; Specific behaviors and characteristics; Desired role and responsibilities
The Entrepreneur
· The calculated risk-taker
· They are not afraid to work alone
· Natural salesman, enjoy the art of the deal (the rainmakers)
· They are driven, success-oriented, persistent,
· Type-A personality, with a great work ethic.
· FIT: Team Leader or Individual Lead Agent (Approximately 10% of the population)
The Manager
· The person who prefers to manage, supervise, and coach others
· Their motivation is to give back, to inspire, to build confidence in others
· They generally have management/supervisory experience prior to real estate
· They are more detail-oriented, good administrators and systemizers.
· FIT: Team Manager/Office Manager (Approximately 20-25% of the population)
The Individual Contributor
· Represents the largest portion of the population
· They prefer to work in a group environment
· To be a contributing member of the vision and goals of a team
· Typically, this person needs and desires support systems, direction, mentoring, and leadership to thrive and succeed.
· They generally come from an employee background and are used to and really want structure and accountability
· FIT: Team Associate, Licensed Admin Asst, Hourly/Salaried Employee
At our company, we actively coach and consult with our real estate sales executives from the time they join the company to help them determine where they best fit.
The branch management team coaches and sorts the Level 1 agents about their options within our business model – moving to Level 2; becoming a Team Associate, Team Manager, Admin Assistant; or exiting the real estate business.
Training, coaching and support are provided at the branch and company level in a variety of formats.
· Individual, one-on-one group coaching
· Monthly group coaching sessions
· Branch Level Skills training classes
· Online Training which allows self-paced, step-by-step instruction on the model
For more information on real estate career opportunities or team-building, contact me at
702.858.9191, jano@americanagrp.com.
