Showing Agents

Showing Agents allow you and your agents to focus on lead follow-up thus increasing your closed deals per month. Typically there is a 40-60% gap on leads received and deals closed. Reasons for this gap:

1) Lack of follow-up

2) Competition

3) Rapport

4) Poor systems.

Most agents will focus on 10 Buyer A leads like a hawk to get 6 deals closed instead of 4. Agents will work 100 buyer leads to try to close 2 deals instead of 1.

Once Showing Agent is hired, the agent will be required to fill out a Showing Report (see PDF above). Showing agents will be paid by completed showing reports. Each agent will complete 10 paper call log PDFs and send to Best Agent Business. We will enter these in manually. We will evaluate once the 1st 10 are completed. Then agents will be granted access to complete call log reports online.

  1. How many showing agents do you interview before you pick one? 3 - 4 before picking one and normally train four to get three because within a very short time I can pair one of them out and really quickly for a variety of reasons.
  2. How long have you seen that they stay with you? 2-3 years
  3. Are the showing agents tight that there's ever any conflicts, or they're trying to work their business? Absolutely and that is why you train-I try to have so many of them that's why I'm going to be training another five to hopefully get another three. Because there's–there's busy times like summer or vacation–they're taking vacations, whatever the case may be, there's only so many people that are available on a particular day, there have been days when we had four buyers in town all looking at property at the same time, I wasn't showing anybody but we had to have four agents out of course, you know that gets the, just logistically it becomes an issue.
  4. Does one closing agent stick with that buyer from start to finish or there times where there's more than one closing agent working with the buyer, the same buyer? Um, you mean showing agent and actually–that is a very good question. Um, we try to keep one showing agent with the clients throughout the entire showing process no matter how many times they go out, but that's not always practical. One of the keys to this is the training process. All of the agents are trained to show property in a very specific way that I have chosen to do it. It's a very systematic message. So, if for some reason they're not available on a particular day, we have to switch to a different agent. They will have a very consistent experience, everything will be exactly the same, they'll know how it's gonna operate, and then we have the ability to pass on information about those clients to the other agents so that they, you know, they know who they're working with, they know what their likes and dislikes are, what we've learned about them at that point.
  5. For each buyer, on average how much time do you personally spend with the buyer from start to finish? Well, my initial time is that the buyer orientation which runs between 45 minutes, it probably averages about 45 minutes.
    Before they go out and start looking at homes. And then I will communicate with them at the end of each day, so I might spend 10, 15 minutes on the phone with them just, you know downloading information about what they thought of what they saw. I don't assume that what I hear from the showing agent was a correct interpretation of their–of their thought. And um so we've got time during that keys, once uh they get ready to buy a property, they found a property they want to write an offer on, I'm probably involved in—I’m involved in the negotiations of depending on how long it goes, I'd say I probably got another hour invested there and then I'm involved during the management of the transaction. Um, I do have a closing coordinator who does all the background work but of course I'm supervising that. Let's say I probably put in 5 hours.
  6. How about the cost for the unlicensed assistant that fills in the paperwork and then the contract manager? The contract manager normally it takes them an hour and a half maximum two hours to walk somebody through the tran–the contracts, so there's a maximum of 70 dollars for the contract manager and my um, my li–unlicensed assistant who actually still does the paperwork charges 13 dollars an hour and uh it takes her about an hour, maximum 15 dollars a day.
  7. Who does what and when? It will change over time. What you start with will change as you close more deals. The tasks you still handle in first 10 deals may be given to someone else after that and you have comfort level.
  8. Who does all the pre work for a showing agent? It is done by either you, or Showing Agent, or someone who only does those tasks such as selection of homes, scheduling showings, and mapping route for Showing Agent.
  9. Who maintains client contact? Client Services, the Callers, call the buyer day after first Showing to confirm results match what Showing Agent reported. This is chance for buyer to say if there was not good rapport. The Buyer Management Team watches all leads after first meeting to make sure no one messes up and drops the ball, whether Showing Agent or you.
  10. Who does lead calling and follow up? You or Callers, not the Showing Agent. That is why they are called a Showing Agent instead of a Buyer's Agent. If they were good at calling and follow-up they would be a Buyer's Agent and make $40/hour instead of $20/hour.
  11. What split is justified for a true buyer agent that would handle client end to end? Across the industry most teams pay Buyer's Agent a 50/50 split. There is no logic for this. It is overpayment for almost all markets except for below $125,000 price points. Some teams take 5-10% off the top and/or pay 40/60 or even 35%. For prices in $500,000 and above it is beyond crazy silly. If a buyer's agent works their own leads such as open houses and buyer web leads, we think a Buyer's Agent should make 30% for leads which are given to them as a Client/SOI referral or a buyer side of a Seller. If they work for it as open house or their SOI etc, then 50% is okay.
  12. Who handles all the stuff with buyer emails regarding new properties, questions about 1000 things, list of homes to see, scheduling, etc? Either you or Showing Agent or an assistant position. It is not a tough issue. Someone needs to do it but it must be a SYSTEM, not a Buyer's Agent doing things differently than they way you would do it.
  1. You took 10 weeks of vacation last year (congrats!) Regarding your process, how are the Buyer leads handled when you're not there?
  2. Have you “hired” any of the Showing Agents to do other tasks with your Team?
  3. You have 3 callers. Are these BAB callers? You mentioned they were different. How so? How do you differentiate what the callers do? How did you pick these callers?
  4. Would you be willing to share your Showing Agent training?
  5. What have you found the best personality type (DISC) for Showing Agents? Have you found any other characteristics that make a difference? Men vs Women? Age? How many years in Real Estate?
  6. What's your personality type?
  7. If you do your own listing work, and you spend 5 hours/Buyer, at what point (how many Buyer & Seller deals) will you find yourself overwhelmed?
  8. How did you sell the Showing Agent concept to your Broker? Any objections or apprehension?
  9. On your immediate Team are you, an unlicensed employee who puts together the contract offers, a contract manager/negotiating Agent, and a Lender Partner. Anyone else? What personality types are they? Could you hire BAB to fulfill the unlicensed employee and contract manager duties?
  10. Is there anything you're doing now that you want to/need to delegate?
  11. Will the Showing Agent concept work in a hot Seller's market?
  12. How do you find the Showing Agents, within your Brokerage, to interview?
  13. For your Buyer contracts, who does the work (inspections, customer service responses, working with the Listing Agent, etc) between the ratified contract and settlement?
  14. You pay your Showing Agents $25/hr + $100 for closed deals. Anything else? For example, gasoline?
  15. Who determines what homes & in what order the Buyers will see them? You or the showing agent?
  16. What standards do you mandate? Dress? Auto? GPS?
  • services/client_talent_management/agent_management_showing_agent.txt
  • Last modified: 2018/07/21 20:18
  • by raquelmartin