Performance Leadership 1

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© 2007 Council of Real Estate Brokerage Managers© 2007 Council of Real Estate Brokerage Managers 11

PERFORMANCE

LEADERSHIP

How to Find, Develop and KeepSuccessful Sales Associates

Instructor:<<Instructor Name>>

<<Designations>>




PRE-COURSE EVALUATION

Performance Leadership Index




SCORING

Factor Score Factor Level

1. Defining Success 20 10 20 30 40 50

2. Developing Skills 30 10 20 30 40 50

3. Coaching Performance 40 10 20 30 40 50

4. Retaining Core Producers 30 10 20 30 40 50

5. Attracting Candidates 20 10 20 30 40 50

Total Score: 140




PRIORITIES

Defining Success

Developing Skills

Coaching Performance

Retaining Core Producers

Attracting the Right Candidates




LEARNING OBJECTIVES

1. Define the success factors in your company thathelp build a high performing sales organization.

1. Create a career development strategy to identify and

implement the critical elements of a salesdevelopment program.

1. Understand how to apply the appropriate leadership

approach based on the individual and the situation.

1. Develop the skills necessary to coach, mentor andhold people accountable to meet performanceexpectations and business results.




LEARNING OBJECTIVES

5. Establish a strategy to make retention a part of thesales development process and ensures thatexisting sales associates achieve their full potential.

5. Develop and implement a strategy to attract salesassociates and agents who are aligned with thecompany’s culture and will be effective in the realestate industry.

5. Create and implement a Sales Leadership Strategyfor the business.


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LEADERSHIP STRATEGIES

Teach

Coach

Recruit

Retain

TheIdealSales

Associat

e



DEFINING SUCCESS

Teach

Coach

Recruit

Retain

TheIdealSales

Associat

e



THE IDEAL SALES ASSOCIATE

QUALITIES SKILLS

BELIEFS PROCESS



THE SUCCESS MODEL

Characteristics

Competencies

Motivation

Behaviors

Beliefs

Activit ie

s

Expertise

Experience

Knowledge

PERFORMANCE



A s k

t h e

C u s t o

m e r !



ASK THE CUSTOMER

For the Buyers Team: How do buyers find realestate agents?

List 8 ways that customers mention most oftenand which one is mentioned most often?

For the Sellers Team: How do sellers find real

estate agents?

List 8 ways that customers mention most oftenand which one is mentioned most often?



ASK THE CUSTOMER

How do buyers find real estate agents?

Referred by (or is) a friend, neighbor or relative 40 %

Used agent previously to buy or sell a home 13 %

Internet web site 7 %

Visited an open house and met agent 7 %

Saw contact information on for sale sign 7 %

Referred by another real estate agent/broker 5 %

Personal contact by agent 3 %

Newspaper, Yellow Book, or home book ad 2 %

Direct mail (newsletter, flyer, postcard, etc.) *

Advertising specialty item (magnet, calendar, etc.) *



ASK THE CUSTOMER

How do sellers find real estate agents?

Referred by (or is) a friend, neighbor or relative 44 %

Used agent previously to buy or sell a home 30 %

Visited an open house and met agent 5 %

Personal contact by agent 5 %

Referred by another real estate agent/broker 4 %

Referred through employer or relocation company 3 %

Direct mail (newsletter, flyer, postcard, etc.) 3 %

Internet Web Site 2 %

Newspaper, Yellow Book, or home book ad 1 %

Advertising specialty item (magnet, calendar, etc.) 1 %




ASK THE CUSTOMER

For the Buyers Team: How many agents dobuyers typically interview before making adecision?

1

2

3

4

5 or more

10%2%

20% 65%

3%




ASK THE CUSTOMER

For the Sellers Team: Did the seller use thesame real estate agent for their home purchase?What percentage did and what percent did not?




ASK THE CUSTOMER

How many agents do buyers typically interviewbefore making a decision?

1 2 3 4 5+

65 % 20 % 10 % 2 % 3 %

How many agents do sellers typically interviewbefore making a decision?

1 2 3 4 5+

69 % 18 % 9 % 3 % 1 %




ASK THE CUSTOMER

Did the seller use the same real estate agent for their home purchase? What percentage did andwhat percent did not?

Yes 50%

No 50%




ASK THE CUSTOMER

For the Buyers Team: What kind of help dobuyers want from real estate agents?

List 6 kinds of help that buyers want and whichone if mentioned most often?

For the Sellers Team: How do sellers find real

estate agents?

List 6 kinds of help that sellers want and whichone if mentioned most often?




ASK THE CUSTOMER

What kind of help do buyers want?

Help finding the right home to purchase. 50 %

Help negotiating the terms of sale 13%

Help determining what comparable homes were selling for 10%

Help with price negotiations 9%

Help with paperwork 8%

Help determining how much buyer can afford to spend on a home 5%

Help finding and arranging financing 3%

Help finding renters for buyer’s property *

Other 2%




ASK THE CUSTOMER

What kind of help do sellers want?

Help to sell the home within specific timeframe 25 %

Help find a buyer for home 22 %

Help seller market home to potential buyers 16 %

Help price home competitively 16 %

Help seller find ways to fix up home to sell for more 10 %

Help with negotiation and dealing with buyers 4 %

Help with paperwork/inspections/settlement 3 %

Help see homes available for seller to purchase 1 %




ASK THE CUSTOMER

For the Buyers Team: Buyers list important skills &qualities for a real estate agent to possess. What arethe top four answers?

People skills Honesty & integrity

Knowledge of real estatemarket

Knowledge of purchaseprocess

Communication skills Knowledge of local area

Responsiveness Skills with technology

Negotiation skills




ASK THE CUSTOMER

For the Buyers Team: Buyers list important skills &qualities for a real estate agent to possess. What arethe top four answers?

Honesty and integrity 97 %

Knowledge of purchase process 93 %

Responsiveness 92 %

Knowledge of real estate market 91 %

Communication skills 83 %

Negotiation skills 81 %

People skills 78 %

Knowledge of local area 76 %

Skills with technology 39 %




ASK THE CUSTOMER

For the Sellers Team: Agents must excel at many thingswhen they market opportunities. Sellers list severalthings. What are the top four answers?

Print newspaper advertisement Television

Open house Real estate magazine

Listing on the Internet Direct mail (flyers,postcards, etc.)

Yard sign Other




ASK THE CUSTOMER

Listing on the Internet 85 %

Yard sign 78 %

Open house 56 %

Print newspaper advertisement 48 %

Real estate magazine 32 %Direct mail (flyers, postcards, etc.) 22 %

Television 4 %

For the Sellers Team: Agents must excel at manythings when they market opportunities. Sellers listseveral things. What are the top four answers?




SUCCESS FACTORS

q Activities

q Characteristics

q Competencies




LEADERSHIP PLAN

INDIVIDUAL

Sales Associate SuccessProfile




DEVELOPING SKILLS

Teach

Coach

Recruit

Retain

TheIdealSales

Associat

e




HOW WOULD YOU LIKE TO LEARN

What new skill would youlike to learn?

A. With others?B. On your own?

C. A combination of working alone and

learning with others?




Data

Knowledge

Wisdo

m

In-Formation

THE WISDOM IMPERATIVE




TRAINING vs. LEARINING

§ Use training whenproficiency isdesired

§ Use learning whenlong term skilldevelopment is

desired

“You haven’t learned a thing until you can

take action and use it.”

Don Shula & Ken Blanchard




REPRESENTATIONAL STYLES

Visua

l Auditor

y Kinesthetic




PreparesParticipants

Prepare

AbsorbPractice

Apply

PresentsInformation

GuidesParticipatio

n

Coaches

Skil ls

FOUR STAGES OF LEARNING




Sell ing Skil ls

Marketing/ProspectingListing PresentationsBuyer Qualif ications

Property ShowingsPreparing/Presenting Offer

NegotiatingTime Management

SKILL DEVELOPMENT

Management Skil ls

Leadership StrategiesManagement Principles

Strategic PlanningFinancial Management

Enterprise Skil ls

PoliciesSystemsProductsServices

Technical Skil ls

Licensing RegulationsAdministrative RulesNAR Code of EthicsContracts




LEARNING FORMATS

Self Study

• Structured Plan• Web-based, CD-Rom,

Paper-based• Learning Foundations• Learning Processes•

Learning Assessment




LEARNING FORMATS

Instructor Led

• Common Need/Event• Seminars & Workshops• Shared Content• Instructor-moderated

communication•

Stimulus for futurelearning• Observe learning

application




LEARNING FORMATS

Group Collaboration

• Learner to Learner Interaction

• Problem-solving, role play,case study

• Shared content•

Interactive communication• Mentoring• Teambuilding




LEARNING FORMATS

Blended Learning

• Variety of Formats• Web-based, CD-Rom,

Paper-based• Learning Centered• Self Directed•

Optimum blend of learning formats




EFFECTIVE LEARNING PROGRAMS

q Entertainment

q Interaction

q Control

q Usability

q Customization




SKILL DEVELOPMENT STRATEGY

Skills

Learning Format

Learning Activities

New

Associates

Existing

Associates




LEADERSHIP PLAN

INDIVIDUAL

Sales Associate DevelopmentPlan




COACHING PERFORMANCE

Teach

Coach

Recruit

Retain

TheIdealSales

Associat

e




SITUATIONAL LEADERSHIP

D4 D3 D2 D1

High competence;high commitment

Moderate to highcompetence; variable

commitment

Some to lowcompetence; low

commitment

Low competence;high commitment

Enthusiastic

Learner

Disillusioned

Learner

Wise counsel.Control is with

follower.

Passes routine tasks.Facilitates decisions.

Defines roles/tasks.Seeks input.

Defines roles/tasks.Close supervision

S4 S3 S2 S1

DirectingLeader

CoachingLeader

SupportingLeader

DelegatingLeader

Experienced

Person

Self-reliant

Achiever

S O S





D4 D3 D2 D1



commitment


commitment


Enthusiastic

Learner

Disillusioned

Learner


follower.




S4 S3 S2 S1

DirectingLeader

CoachingLeader

SupportingLeader

DelegatingLeader

Experienced

Person

Self-reliant

Achiever

New AssociateCore Associate






D2 D1


commitment


Enthusiastic

Learner

Disillusioned

Learner



S2 S1

DirectingLeader

CoachingLeader

DIRECTIVE STYLE S1




§ One way communication§ Tell the person what,

when, where, and how todo something

§ Closely monitor thefollower

§ The leader makes all the

decisions§ The follower carries out

the leader’s ideas

DIRECTIVE STYLE – S1

COACHING STYLE S2




•

Leader still defines rolesand tasks (as inDirective), but

• Leader seeks ideas and

suggestions fromfollower

• Communication is muchmore two-way

• Decisions remain theleader’s prerogative

COACHING STYLE – S2

EARLY WARNING SIGNS




EARLY WARNING SIGNS

CORRECTIVE COACHING




CORRECTIVE COACHING

ü Limit resistance &negative emotions

ü Identify specificissues

ü Establish changefocus

PRESENT

You wanted to have$10 million in volume this

year.We’re in the second

quarter and the reportsindicate you’ve closed one

$375,00 sale this year.

What do you need to do toget this on track?

CORRECTIVE COACHING




CORRECTIVE COACHING

ü Defuse resistance

ü Develop information

ü Agree on problem

and causes

RESPONDLet’s start with the

challenges youmentioned.

List others and we’ll

discuss somesolutions. OK?

So it seems the major challenge to meeting

your goal is ________.

Do we agree?

CORRECTIVE COACHING




CORRECTIVE COACHING

ü Confirm ownership

ü Agree on next steps

ü Commit to positive

relationship

RESOLVE

So we agree that youwill ________ and ________.

Is that right?Good! I am confident that

you can make thenecessary changes and reach your goals. Let’s

review thisagain next month.

COACHING




COACHING

DO…

þ Use questions to lead the discussion.

þ Focus on the factsþ Define the impact or consequencesþ Praise performance that meets or exceeds

expectationsþ Create a culture of self-review

COACHING




COACHING

Don’t…

ý Allow excuses

ý Allow yourself to accept responsibility tocorrect problem or performance

ý Be pessimisticý

Let time lapse to address issuesý Lose your patience or your temper

COACHING SCENARIOS




COACHING SCENARIOS

Manager Associate Observer

Situation 1 A B C

Situation 2 B C A

Situation 3 C A B

ACCOUNTABILITY




ACCOUNTABILITY

Seven Prerequisites

ACCOUNTABILITY

7 PREREQUISITES OF ACCOUNTABILITY





Accountability is to individuals, not togroups, committees or organizations.

Clarify the areas in which one will be heldaccountable.

State expectations in a manner that is

specific and clear .

Measurement of expectation must delineatequantity and time frame.






Consequences for meeting or failing to meetexpectations must be stated in detail.

Consequences must be enacted withimmediacy, objectivity, and clarity.

Accountability must be modeled by top

management.

LEADERSHIP PLAN




LEADERSHIP PLAN

INDIVIDUAL

Sales Associate CoachingPlan

RETAINING CORE PRODUCERS




RETAINING CORE PRODUCERS

Teach

Coach

Recruit

Retain

TheIdealSales

Associate






D4 D3 D2 D1



commitment


commitment


Enthusiastic

Learner

Disillusioned

Learner


follower.




S4 S3 S2 S1

DirectingLeader

CoachingLeader

SupportingLeader

DelegatingLeader

Experienced

Person

Self-reliant

Achiever

New AssociateCore Associate

SUPPORTIVE STYLE S3




§ High on supportive; lowon directive§ Support follower’s efforts§ Listen to their

suggestions§ Facilitate their

interactions with others§ Encourage and praise,

in order to buildconfidence

SUPPORTIVE STYLE – S3

DELEGATING STYLE S4




•

Leader is still involved indecisions and problemsolving

• Control is with thefollower

• Follower decides whenand how the leader will

be involved

DELEGATING STYLE – S4






D4 D3 D2 D1



commitment


commitment


EnthusiasticLearner

DisillusionedLearner


follower.




S4 S3 S2 S1

DirectingLeader

CoachingLeader

SupportingLeader

DelegatingLeader

Experienced

Person

Self-reliant Achiever

APPLICATION




APPLICATION

§ Think about the person’s competence levelnecessary to accomplish a certain goal§ People are not at the same level of

development for all parts of their job§ Each person you lead should understand why

you will be using a particular level of interaction (leadership style), and

§ This person should agree with the decision.

“Situational leadership is not something you do to people, but instead, with people.”

Ken Blanchard

APPLICATION




APPLICATION

“Situational leadership is not something you do to people,

but instead, with people.” Ken Blanchard






“Your goal as a leader should be to gradually increase the competence and confidence of your people. This helps them

and it helps you – as you move along the model, you will use the less time consuming styles: S3 and S4.”

Ken Blanchard

MENTORING




MENTORING

MENTOR

RoleModel

Teache

r

Coach

Counsel

Champion

SUCCESSFUL MENTORING




SUCCESSFUL MENTORING

þ

Both are open to change, new possibilities & learnfrom one another.þ Both make a commitment to professional and

personal development.

þ The relationship creates satisfaction for bothindividuals.

þ Both individuals confront and resolve conflicts.þ The protégé recognizes the mentor’s impact on their

growth.þ The relationship evolves over time.

THE POTENTIAL FOR GROWTH




THE POTENTIAL FOR GROWTH

SeasonedSales Associate

Potential For Growth

QuestionablePotential

DECK OF CARDS




DECK OF CARDS

RETENTION STRATEGIES




RETENTION STRATEGIES

Involvement: Active participation in management activitiesand/or decisions

Development: Learning new skills or techniques applicable to job performance

Mentoring: Working with less experienced associates todevelop their professional growth

Recognition: Acknowledgement for achievement andperformance above expectations

Advancement: Opportunities to move into positions of greater responsibilities & rewards

LEADERSHIP PLAN




LEADERSHIP PLAN

INDIVIDUAL

Sales Associate RetentionPlan

ATTRACTING THE RIGHT CANDIDATES




ATTRACTING THE RIGHT CANDIDATES

Teach

Coach

Recruit

Retain

TheIdealSales

Associate

VALUES




VALUES

How we conduct business:

§ How do we deliver our products and services?

§ How do we deal with customers?§ How do we treat our sales associates?§ How do we contribute to our community?

VALUE PROPOSITION




VALUE PROPOSITION

For the Sales Associate:

§ Who We Are§

Competitive Advantages§ Market Focus

COMMON MISTAKES




COMMON MISTAKES

1. Faulty Reasoning

“Yes, ours may be adifferent product or service

or client or industry, but Mark is a good salespersonand he will be fine.”

COMMON MISTAKES




2. Wrong Focus

“Let’s find good salespeople.”

“Let’s find good salespeoplewho are a perfect match withour unique sales culture and with this position.”

COMMON MISTAKES




3. Over-market the Company

“We are the best, thelargest, the oldest, etc.,

and if you let us wooyou to work here, wewill shower you withfabulous perks.”

SUCCESS FACTORS




q ActivitiesProcesses & Procedures

q QualitiesCharacteristics, behaviors

q SkillsCompetencies, Consultativeselling skills

RECRUITING STRATEGIES




Create a reputation

Let others spread the word

Use advertising appropriately

Build a list of candidates

Use referrals & introductions

LEADERSHIP PLAN




INDIVIDUAL

Sales Associate RecruitingPlan







PERFORMANCE

LEADERSHIP

How to Find, Develop and KeepSuccessful Sales Associates

Thank you for attending!




PERFORMANCE

LEADERSHIP

How to Find, Grow and KeepSuccessful Sales Associates

Thank you for attending!

Documents

Performance Leadership 1