Minimum Standards are killing the production in your real estate company. Minimum Standards are killing the motivation of your real estate agents. Minimum Standards have got to go.
What kind of minimum standards do you have in your real estate company?
Number of closed transactions per year? Number of transactions per quarter? Number of listings taken?
Minimum standards don’t motivate. Minimum standards don’t push your real estate agents to be their best. Minimum standards don’t even pull you towards excellence. Minimum standards send the wrong message. You could hire a great rookie agent and they see the minimum standard of four transactions per year, what might they be likely to do after they reach four transactions? They might start backing off, feeling as though they have succeed in your eyes. Get rid of minimum standards.
Instead, give maximum standards. This will depend on how your business model and how you run things, but here are some ideas:
Instead of a minimum standard of 4 transactions a year, give a maximum standard that Rookie Of The Year receives free training vacation.
Instead of a minimum standard of attending meetings, give a maximum standard of free office space for those that attend 80% of the meetings.
Instead of a minimum standard of how many listings to take, give a maximum standard of paying for the AdWords marketing for them.
I think you see where I’m going with this. What are some maximum standards you can put in place in your company? What are the minimum standards you will get rid of?
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