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The percentage of new agents who fail in real estate is staggering. The question becomes, what can we do as a real estate community to encourage and prepare new agents for success? Mario Mitchell, president and CEO of The Mitchell Team with Keller Williams South Park in Charlotte, North Carolina, has developed an innovative way to help new agents get the jump-start they need.
One of the core traits of many successful agents is a desire to help people. Yes, this shows itself in helping buyers and sellers, but it should also involve helping other agents who are newer to the business. Odds are someone did it for you, and the best way to honor the gift of assistance is to pass it to the next generation of agents.
Real estate is what we do, not who we are. Ultimately, we are here to serve people, and the following idea is a great way to give back to the business that has been so good to so many of us.
New agent business shower
Whether it be baby showers or wedding showers, when we celebrate new beginnings, it often involves showers or parties. The showers are a time when friends or community come together to celebrate the new beginning. They bring gifts to make sure the transition is smooth. In other words, they shower the honoree with gifts. Many times, these are gifts they wish they would have received when they had a baby or were married.
The concept Mitchell has is very similar, but in this case, it’s a business shower for new agents. These showers involve the participants bringing gifts that include things they wish they would have received when they started in the business.
What should the gifts be?
The gifts can vary, but the most significant gift experienced agents could give is a written summary of a few of the most common questions new agents ask. Here are a few example questions agents can answer that would be extremely helpful for new agents:
- What did you do to generate leads when you first started?
- How did you get your first listing?
- What do you wish you would have known when you started in real estate?
- What is your favorite app that you use in your business?
- If you had to start over today, what would be the first thing you would do?
It is invaluable for new agents to receive answers to questions like these from 10-20 experienced agents. Imagine the impact these answers could have on a new agent.
Other ideas for gifts new agents would appreciate include:
- A lockbox
- Books that have helped you
- Checklists from your business that you use
- Anything else they might need to get started
How this benefits the new agent
Think back to when you first started in real estate: the excitement you had about starting your new career. Then remember the days when you weren’t sure what to do or who you could ask for help.
The ability for new agents to gain insights and see that other agents are supportive is invaluable for their future success. One idea shared or one encouraging story from an experienced agent could be the difference between success and failure for the new agent.
It also fosters an atmosphere of collaboration where the new agent can identify the agents willing to answer questions they have along the way. The confidence of knowing you have a supportive office makes a huge difference in the new agent’s boldness to take action in their business.
How this benefits the agents who support the newbie
If you’re reading this and you’ve had some success, odds are, a more experienced agent or broker took the time to share insights with you on how to prospect for new clients, farm a neighborhood, or circle prospect. Giving back to this business by supporting new agents is a great way to pass on what someone (or likely many agents) did for you.
These business showers are also a time to build rapport with the new agent who might have the next buyer for your listing or be a good fit as a buyer’s agent for you. Who knows, you might be beginning a relationship with a future top-producer who will never forget those who supported them early in their career.
If you live by the motto that it’s better to give than receive, this is a great way to give back to the real estate business.
How this benefits the brokerage or team
Building a supportive and collaborative culture should be a goal for all brokerages and teams. Providing an event where the new agent feels welcome and receives ideas on how to get a quick start in their business helps the brokerage or team as well.
Not only is it good for culture, but an agent with ideas and direction can begin generating sales in a much quicker time frame, which, in turn, generates revenue for the brokerage or team. It also provides the opportunity to meet other agents in the office in a supportive environment that leads to them building relationships with other agents.
If your brokerage or team is adding new agents, it’s hard to imagine an event like this not leading to more sales and a more collaborative culture. This year, focus on giving back more to the business, and I believe the business will give more back to you with all my heart.